BREAKING NEWS: State to ring-fence Transnet’s billions of irregular expenditure

Plans to ring-fence tens of billions of rand of irregular expenditure at SA’s rail and port utility Transnet are under discussion by the National Treasury, the auditor-general and the department of public enterprises, Pravin Gordhan said on Friday.

Speaking at the release of Transnet’s annual results, which showed cumulative irregular expenditure of R114bn, public enterprises minister Gordhan said the talks are designed to secure clean audit findings for the state-owned entity .A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Now only?

And this will result in what?

The only ringed Fence that is fit for thieves in the corrupt anc is JAIL FENCE!! MOEGOES!!

agh man I wonder if De Lille fcked up again...from washing line to ring fence

Whatever that means

Ring fence the crooks, they spending the billions you after.

noentry54 This sounds like another scam. Does this mean that you'll hold ppl responsible who ran Transnet since 1994?

Lots of money at Transnet

noentry54 The rail lines and infrastructure is being dismantled! There is no transnet anymore!

PresidencyZA - why is Anoj Singh and Brian Molefe still free men?

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