LIVE FEED: #StateCaptureInquiry May 15, 2019 | IOL News

Johannesburg - The commission is investigating allegations of state capture at state owned companies including Transnet.

Last week the commission heard from Transnet boss chair Popo Molefe who told the commission that when the new board took over in early 2018 it found a “horror show” and widespread corruption. The commission also heard from Peter Volmink, Transnet‘ sheaf of governance. He explained how Transnet executives would sometimes keep contracts classified which allowed them to bypass the usual procedures and scrutiny.

"It's quite a strange thing in a state-owned entity – somebody who says there are certain contracts which will be regarded as confidential, but we are not saying which ones. What are the criteria for confidentiality? asked Zondo. "[The contracts] could entail a lot of taxpayers money.""This concern is not an abstract academic concern, it is rooted in the real experiences of the organisation. It created huge risk for the organisation at the time.

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