Secrecy and obstructive conduct continue to plague Transnet as clean-up efforts by a new board, now headed by Popo Molefe, seek to unravel and turn the tide on the multi-billion rot at South Africa’s state-owned freight and logistics company.
Molefe provided a glimpse of that as he alerted the Commission chairperson, deputy chief justice Raymond Zondo about contracts for financial advisory services, port cranes, CCTV camera systems and Transnet’s controversial acquisition of more than a thousand locomotives across three deals that allegedly benefited the Guptas.
The deals under the microscope at the State Capture Commission implicate among others, international consulting firm, McKinsey & Co and local financial advisory firms, Regiments Capital and its offshoot, Trillian Capital Partners as well as T-Systems and Neotel.The starting point, Molefe said, was for the puppet masters to get a grip on the top decision makers and to identify other strategic positions that would play a critical role in the allocation of budgetary resources.
Molefe told the Commission that the State Capture project was crafty at Transnet in that it involved the appointment of individuals known to have served the country, with the right qualifications who would have been proclaimed as great corporate leaders.But once inside, they took control of the mechanisms that provided a counter-veil against rampant corruption or irregularities in the business,” he said.
The parastatal’s new offices were previously occupied by Group Five which exited two years into a five-year lease agreement.
JessBezJourn .....has he struck the fan yet....
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