Scopa flags Transnet irregular expenditure

The company says much of this is owing to dishonest employees who are not following due process and policy.

Picture: Transnet.net.

JOHANNESBURG – Parliament’s Standing Committee on Public Accounts has raised concerns about leadership at Transnet over irregular expenditure, amounting to R255 million for the 2015/16 financial year.

The company says much of this is owing to dishonest employees who are not following due process and policy.

Executives accounting to Parliament say actual irregular expenditure is far less at R20.6 million because the remainder was a technical issue that had to be ironed out with South African Revenue over the taxation of foreign companies.

The state-owned freight company made a profit of R393 million in the 2015/16 financial year.

Chief Executive Officer Siyabonga Gama says criminal action has been taken against those defrauding the company.

“All of these are taken very seriously. We follow them up and make sure that we exhaust all different measures available to us in terms of the law.”