for subscribers

Transport minister vows to dig deeper after Prasa judgment

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - Minister of Transport Joe Maswanganyi has welcomed the Pretoria High Court judgment that the two contracts entered into by the Passenger Rail Agency of SA (Prasa) with its former chief financial officer (CFO) and consultant Fenton Gastin were invalid and unlawful.

The first contract was hiring him as a CFO. It included about R3.4m as part of a "mutual separation" agreement. The second was a day-to-day consultancy contract given to him by Prasa after he had basically been fired. Gastin must pay back R8.22m to the agency. Former Prasa group CEO Lucky Montana concluded the contracts with Gastin.

Prasa demonstrated to the court that Gastin and Montana maintained a relationship "with the purpose of defrauding the rail agency".

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.63
(-0.14)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.78
(-0.04)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.02)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 929 votes
It depends on how the funds are used.
74% - 6241 votes
No. We should have gotten the loan elsewhere.
15% - 1284 votes
Vote