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.“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.”
There must be a policy to contract other SOE’s instead of going to the private sector.
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