That an African woman can reach the dizzy heights of Fortune Magazine’s top 50 business personalities in the world says something profoundly different to the usual pessimism about the continent. There’s hope yet.
Maria Ramos deservedly scoops our cover story this month for no other reason than her rather athletic ability to shore up a floundering corporate behemoth in barely two years since her appointment as Group CE of Transnet.
In years gone by, reckless financial decisions seriously dented the corporate integrity of Transnet. South Africa’s star airline, SA Airways, was sitting with a massive exposure of $1,3bn in hedges, the Group piled up bottomline losses totalling R6,3bn, and its debt book – in the red in the 2004 financial year – read like a case study of a company that could not be saved.
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