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Transnet paid Trillian R93 million for five-day work - Bloom

The commission evidence leaders appointed Bloom to analyse the various financial advisory contracts Transnet entered into.

FILE: A screengrab of corporate finance expert Dr Jonathan Bloom appearing at the state capture inquiry on 31 May 2019.

PRETORIA - The state capture commission of inquiry has heard how Gupta-linked consultancy firm Trillian was paid R93 million for just five days of work.

This was the evidence of corporate finance expert Dr Jonathan Bloom at the public hearing in Parktown on Friday.

The commission evidence leaders appointed Bloom to analyse the various financial advisory contracts Transnet entered into.

Evidence leader Advocate Paul Pretorius set out the timeline before asking Bloom what he had discovered.

“Trillian is appointed in terms of an agreement dated 18 November 2015. We know that the loan for which it was appointed was entered into today’s letter. what happened in that very same month?” Pretorius asked.

Bloom said: “Trillian, for the work they’ve purportedly done, issued an invoice to Transnet for R93 million, inclusive of that.”

Deputy Chief Justice Raymond Zondo sought clarity on Bloom's evidence.

Zondo asked: “Are you then saying, looking at the work that an entity performing the kind of function or doing the kind of work that it was appointed to do and the amounts involved and so on, it could not have done work to justify the kind of amount they issued an amount for?”

“That’s correct chair,” replied Bloom.