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 […]

Business In The News South Africa

Trillian raked in money for nothing, knew Nene and Gordhan would be fired, Eskom inquiry hears

PARLIAMENT, October 31 – A former top executive of Trillian Capital Partners on Tuesday confirmed that the company did work for Eskom to the tune of R600 million without any formal contract with the power utility after earning R93 million from Transnet for no services rendered. Mosilo Mothepu’s testimony before Parliament’s inquiry into state capture painted […]

Business In The News South Africa

Eskom interim CEO blames “oversight” in friend’s monthly R100k contract

JOHANNESBURG, October 12 – Eskom’s interim group chief executive, Sean Maritz, on Thursday “acknowledged the oversight” in hiring his friend on a R100,000-per-month contract without following proper procedure, but rejected that this was irregular. This comes after weekend media reports that Maritz had previously received a written warning because he did not declare that the lucrative contract was given […]