In The News South Africa

Gama sent by Transnet to brief MPs on corruption probes

PARLIAMENT, August 22 – Parliament’s portfolio committee on public enterprises on Wednesday, cut short a briefing by Transnet on its corruption investigations because of the presence of freight rail company CEO Siyabonga Gama. The Transnet board last week served Gama, chief procurement officer Thamsanqa Jiyane and supply chain manager Lindiwe Mdletshe with notices of intention […]

Business In The News South Africa

Transnet develops action plan to deal with R8bln irregular expenditure

JOHANNESBURG, August 20 – Transnet said on Monday that it was developing a “comprehensive corrective action plan” to prevent the recurrence of irregular expenditure which resulted in the external auditors issuing a qualified audit opinion relating to the completeness of the identification and reporting of irregular expenditure. This as the State-owned logistics company reported R8.1 billion […]

Business In The News South Africa

National Treasury receives draft forensic report on Tegeta, China South Rail

PRETORIA, July 29 – The National Treasury has received the draft forensic report on alleged irregularities regarding Eskom’s coal supply contract with the Gupta-owned Tegeta and Transnet’s purchase of rail locomotives from China South Rail. “Further to the announcement of 4 August 2017, National Treasury has received the draft forensic report on the alleged irregularities […]

In The News South Africa

Transnet chairwoman resigns on eve of meeting with government

CAPE TOWN, May 4- The chairwoman of Transnet, Linda Mabaso, has resigned with immediate effect, Public Enterprises Minister Pravin Gordhan said on Thursday. Mabaso’s resignation comes on the eve of a shareholder meeting called by Gordhan for Friday. “I accepted her resignation, which took effect immediately,” Gordhan said in a statement. Two non-executive directors, Vusi […]

In The News South Africa

Minister Brown orders Transnet to report irregularities over locomotive contract

Johannesburg, February 20 (Reuters) – South African Public Enterprises Minister Lynne Brown on Tuesday ordered rail-utility Transnet to report to law enforcement officials irregularities on the 54 billion rand procurement process of the locomotives in 2014. She said Transnet, which operates nearly three-quarters of the African rail-network, had been investigating allegations of corruption in the […]

In The News South Africa

SA’s public enterprises minister hints Transnet board could be “rotated”

PARLIAMENT, January 23 – Public Enterprises Minister Lynne Brown on Tuesday suggested board members of Transnet, South Africa’s state owned freight and logistics company, could be “rotated” should they not guard the integrity of the entity.   Brown was speaking in a meeting of Parliament’s standing committee on public accounts (Scopa) where MPs took Transnet […]

Lead South Africa

Transnet board, executives expected in hot seat after being summonsed by Parliament

PARLIAMENT, January 23 – The board and executive management of South Africa’s state-owned freight transport and logistics company, Transnet, are expected to appear before Members of Parliament (MPs) on Tuesday, after Parliament issued them with summonses. The summons was issued in December shortly after executive and non-executive directors of the company failed to appear before […]

In The News South Africa

Transnet apologises unreservedly for no-show at Parliament’s Scopa

JOHANNESBURG, December 6  – The board of South Africa’s state-owned freight and logistics company, Transnet, on Wednesday apologised for failing to appear before the Parliament’s standing committee on public accounts (Scopa), saying that it was committed to having proper engagements with lawmakers. Board chairwoman Linda Mabaso and her team were expected to respond to Members of Parliament (MPs) […]