ARTICLES RELATING TO TRANSNET

Contractor quits Transnet's Berth Deepening project amid probe

2019-05-21 17:57

Transnet is continuing its investigations into allegations of irregularities in procurement processes for a berth deepening project.

McKinsey 'lost the plot' in business case for Transnet locomotives, inquiry hears

2019-05-20 14:16

Global consulting firm McKinsey & Co did not fully understand its mandate when it was brought in to strengthen the business case for Transnet to acquire 1064 locomotives, a former Transnet official has said.

Massive upfront payment to China South Rail was 'unusual', inquiry hears

2019-05-17 17:45

China South Rail was paid R2.6bn in advance for a contract of 100 locomotives from Transnet - a transaction described as ''unusual' by State Capture inquiry witness Francis Callard.

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WATCH LIVE | State capture inquiry: Former Transnet engineer testifies

Former Transnet electrical engineer Francis Callard takes the stand at the commission of inquiry into allegations of state capture. Watch live.

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Transnet's dealing room transferred to Gupta-linked Regiments Capital, inquiry hears

2019-05-16 15:04

An interest rate swap transaction for a Transnet loan which was facilitated by Regiments Capital was meant to benefit the Gupta-linked fund manager, the state capture inquiry heard.

Excessive costs for 1064 locomotive contract not justifiable, says acting Transnet CEO

2019-05-15 19:10

The state capture commission on Wednesday heard that the cost estimates for 359 out of 1064 locomotives contracted to China South Rail by Transnet were excessive and without justifiable reasons.

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WATCH LIVE: State capture inquiry resumes with acting Transnet CEO in the hot seat

The Transet Group's acting chief executive officer, Mohammed Mahomedy, is expected to take the stand when the judicial commission of inquiry into allegations of state capture resumes in Parktown, Johannesburg. Watch live.

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End executive 'bullying' in Transnet, state capture inquiry hears

2019-05-09 16:53

A Transnet executive has called for bullying to be made a dismissable offence, saying supply chain staff are at times pressured by senior officials to make unlawful procurement decisions.

Popo Molefe slams Gigaba for appointing 'architects of capture' in Transnet 'horror show'

2019-05-07 14:19

Transnet Board chairperson Popo Molefe names Former CEOs Brian Molefe, Siyabonga Gama and former chief financial officer Anoj Singh as the architects of the capture at the state enterprise.

AS IT HAPPENED: 'This business was on the edge of a cliff' - Molefe says of Transnet at state capture inquiry

2019-05-07 10:04

Transnet chairperson Popo Molefe has taken the stand before the judicial commission of inquiry into state capture, as the inquiry turns its attention to probing allegations of fraud, corruption and kickbacks at the state-run freight rail group.

 

Advance payments for locomotives forced Transnet to borrow more - inquiry hears

2019-05-20 18:54

Advanced payments for 1 064 locomotives to be acquired by Transnet, cost it R7.37bn and forced the state entity to increase its foreign borrowings to finance the acquisition, the state capture commission heard.

China South Rail contract for 100 locomotives was 'flawed', inquiry hears

2019-05-20 10:33

The procurement of 100 locomotives from China South Rail was flawed and resulted in excessive costs to Transnet, the state capture inquiry heard.

Documents 'deliberately' altered to award locomotive contract to China South Rail, Zondo inquiry hears

2019-05-17 13:37

Former Transnet executives had amended a business case to procure 100 locomotives so that it would favour China South Rail in tender processes, the state capture commission of inquiry heard.

Zondo: 'Blatant' disregard for processes at Transnet

2019-05-16 17:30

There appears to have been a "blatant" disregard of processes put in place to protect Transnet against abuse, corruption and to minimise its losses, Deputy Chief Justice Raymond Zondo said.

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WATCH LIVE: Transnet's Mohammed Mahomedy continues testifying at state capture commission

Transnet's acting group CEO, Mohammed Mahomedy, continues testifying before the state capture commission of inquiry. Watch live.

0 comments4763 Views

Some Transnet execs learnt of irregular contracts through media, state capture inquiry hears

2019-05-15 14:08

Mahommed Mahomedy told the state capture inquiry that a review of contracts by the new group's board uncovered a serious disregard for processes and management structures in the appointment of service providers.

Acting Transnet CEO in the hot seat as state capture inquiry resumes

2019-05-15 06:30

Transnet Group Acting Chief Executive Officer, Mohammed Mahomedy, is set to take the stand on Wednesday when the judicial commission of inquiry into state capture resumes in Parktown, Johannesburg.

Transnet recovering billions lost by directors, Gupta-linked firms - Popo Molefe

2019-05-07 16:51

Transnet is in the process of recovering billions lost by its directors and companies which benefited from irregularly awarded contracts, Chairperson Popo Molefe said.

Brian Molefe's appointment at Transnet opened the door for corruption - board chair

2019-05-07 12:32

Transnet board chair Popo Molefe says that the capture of state enterprises was a strategic operation in which key decision makers were targeted in an effort to benefit the interests of a few.

Transnet chair Popo Molefe set to take the stand at state capture inquiry

2019-05-07 07:00

After investigating Eskom, the inquiry has turned its attention to probing allegations of fraud, corruption and kickbacks at the state-run freight rail group.

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