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Ex-Transnet treasurer feared for her life before resignation, inquiry hears

She blamed former chief executives Brian Molefe and chief financial officer Anoj Singh for creating a difficult environment in the company.

Picture: www.transnet.net

JOHANNESBURG - Former Transnet group treasurer Mathane Makgatho has told the state capture commission she feared for her life and believed her movements and communications were being monitored in the lead up to her resignation from the state-owned company in 2014.

“All my phones were bugged. I sensed as if I was being monitored. Even after I’d resigned, I could sense that I am still being monitored. My blood pressure was just deteriorating,” she told Deputy Chief Justice Raymond Zondo.

She blamed former chief executives Brian Molefe and chief financial officer Anoj Singh for creating a difficult environment in the company.

Earlier on Friday Makgatho told the commission she was the only executive at Transnet who opposed the takeover by Gupta-linked Regiments Capital and its irregular pricing models by lenders China Development Bank when the company was fraudulently roped in to negotiate the multibillion-rand locomotives deal. She said this had led to her victimisation.

She also told the inquiry that she was uncomfortable that the state-owned company’s biggest ever transaction - which carried significant risk- was being negotiated by outsiders.

This follows her testimony on Thursday in which she explained how she prevented R750 million from being stolen from the parastatal when she stopped Singh from effecting a R5 billion loan from Nedbank through Regiments Capital.

“I made it very clear that my recommendation is not changing because I know that what I am giving him is an honest opinion and it’s the right recommendation. And, in any event, they are executives, they can choose to use their executive power and do otherwise, but as the then treasurer of Transnet I was not about to change my recommendation to be aligned with Regiments,” she said.

Makgatho also told the inquiry that it was an “open secret” that there was a lot of money moving around in the state-owned company’s head office during the processing of the controversial locomotives tender.

The South African Reserve Bank’s Elijah Mazibuko is expected to testify next.

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