20°C / 22°C
  • Fri
  • 18°C
  • 10°C
  • Sat
  • 18°C
  • 13°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 23°C
  • 15°C
  • Tue
  • 22°C
  • 12°C
  • Wed
  • 23°C
  • 11°C
  • Fri
  • 26°C
  • 18°C
  • Sat
  • 25°C
  • 17°C
  • Sun
  • 25°C
  • 17°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 24°C
  • 15°C
  • Wed
  • 25°C
  • 17°C
  • Fri
  • 19°C
  • 12°C
  • Sat
  • 19°C
  • 15°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 23°C
  • 17°C
  • Tue
  • 23°C
  • 15°C
  • Wed
  • 25°C
  • 13°C
  • Fri
  • 21°C
  • 12°C
  • Sat
  • 20°C
  • 15°C
  • Sun
  • 22°C
  • 15°C
  • Mon
  • 23°C
  • 16°C
  • Tue
  • 23°C
  • 14°C
  • Wed
  • 24°C
  • 11°C
  • Fri
  • 25°C
  • 17°C
  • Sat
  • 26°C
  • 19°C
  • Sun
  • 22°C
  • 19°C
  • Mon
  • 22°C
  • 18°C
  • Tue
  • 21°C
  • 18°C
  • Wed
  • 22°C
  • 18°C
  • Fri
  • 27°C
  • 16°C
  • Sat
  • 23°C
  • 18°C
  • Sun
  • 21°C
  • 17°C
  • Mon
  • 21°C
  • 17°C
  • Tue
  • 22°C
  • 17°C
  • Wed
  • 22°C
  • 17°C
  • Fri
  • 31°C
  • 17°C
  • Sat
  • 32°C
  • 15°C
  • Sun
  • 31°C
  • 15°C
  • Mon
  • 31°C
  • 17°C
  • Tue
  • 27°C
  • 16°C
  • Wed
  • 29°C
  • 16°C
  • Fri
  • 24°C
  • 17°C
  • Sat
  • 25°C
  • 16°C
  • Sun
  • 24°C
  • 16°C
  • Mon
  • 25°C
  • 16°C
  • Tue
  • 24°C
  • 15°C
  • Wed
  • 25°C
  • 17°C
  • Fri
  • 20°C
  • 12°C
  • Sat
  • 20°C
  • 16°C
  • Sun
  • 24°C
  • 16°C
  • Mon
  • 24°C
  • 17°C
  • Tue
  • 27°C
  • 14°C
  • Wed
  • 27°C
  • 13°C
  • Fri
  • 23°C
  • 12°C
  • Sat
  • 23°C
  • 12°C
  • Sun
  • 25°C
  • 12°C
  • Mon
  • 26°C
  • 14°C
  • Tue
  • 22°C
  • 12°C
  • Wed
  • 24°C
  • 11°C
  • Fri
  • 24°C
  • 12°C
  • Sat
  • 25°C
  • 15°C
  • Sun
  • 21°C
  • 17°C
  • Mon
  • 20°C
  • 16°C
  • Tue
  • 21°C
  • 16°C
  • Wed
  • 26°C
  • 16°C
  • Fri
  • 29°C
  • 16°C
  • Sat
  • 22°C
  • 16°C
  • Sun
  • 21°C
  • 15°C
  • Mon
  • 21°C
  • 14°C
  • Tue
  • 23°C
  • 13°C
  • Wed
  • 21°C
  • 15°C

CEO: Transnet paid millions to consultancies for services it could do internally

Acting group chief executive Mohammed Mohamedy said that Gupta-linked companies Regiments and Trillian were contracted to secure loans for Transnet.

A screengrab of Transnet acting group chief executive Mohammed Mahomedy at the Zondo commission of inquiry into state capture on 15 May 2019.

PRETORIA – The state capture commission of inquiry has heard how Transnet was paying hundreds of millions of rands to consultancies for services which could have been provided internally.

Acting group chief executive Mohammed Mahomedy was referring to Gupta-linked companies Regiments and Trillian during his testimony on Wednesday.

Mahomedy said that Regiments and Trillian were contracted to secure loans for Transnet.

“Just based on the funding, you see just about a quarter of a billion rand being paid out when expertise existed in Transnet to execute these transactions.”

He said that internal treasury staff who had been employed at Transnet for decades were left stunned by the deals negotiated by the two companies.

“They were perplexed by the choice of loans, by some of the transactions that Transnet persevered with if I can say, and in some cases, they were also deep in the dark when these transactions were being negotiated.”

Mahomedy returns to the commission on Thursday.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus