State capture: Transnet agreements 'went straight to the board for approval, bypassing managers'

"I understand that there was a system where a set of key roleplayers and Transnet executives, board members and certain companies acted in consult to the detriment of Transnet's best interests," Mahomedy said.

"Certain transactions were approved through normal processes and some of the transactions did not go through the governance processes prescribed within Transnet. If we look at the Neotel transaction, there was an approved memorandum to appoint Neotel in October 2013," he said.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH LIVE: Transnet's Mohammed Mahomedy continues testifying at state capture commissionTransnet: I don't really feel like reading any more of the revelations about the wrongdoing of ANC leaders, as it's clear it's going to take ages for charges to be brought & even longer for justice to be done: In the meantime, voter support for them continues unabated!
Source: News24 - 🏆 4. / 80 Read more »

State capture: Transnet agreements 'went straight to the board for approval, bypassing managers'Transnet acting group chief executive officer Mohammed Mahomedy told the state capture inquiry on Wednesday that key roleplayers at the state-owned company and certain companies 'acted ... to the detriment of Transnet's best interests'.
Source: TimesLIVE - 🏆 28. / 59 Read more »

LIVESTREAM: Transnet executive continues testimony on state captureExecutive manager Peter Volmink testified that Transnet leaders broke rules to cut deals. AND WHAT DID HE DO ABOUT IT ? HE COULD HAVE RESIGNED ? …… SPOKE TO MEDIA ETC. ?
Source: eNCA - 🏆 49. / 51 Read more »

Acting Transnet CEO in the hot seat as state capture inquiry resumesTranset Group Acting Chief Executive Officer, Mohammed Mahomedy, is set to take the stand on Wednesday when the judicial commission of inquiry into state capture resumes in Parktown, Johannesburg.
Source: News24 - 🏆 4. / 80 Read more »

WATCH LIVE: State capture inquiry resumes with acting Transnet CEO in the hot seat
Source: News24 - 🏆 4. / 80 Read more »

WATCH LIVE | Transnet acting CEO back in the hot seat at state capture inquiryTransnet acting group chief executive officer Mohammed Mahomedy is due to continue his testimony at the state capture inquiry on Thursday. That man on the stand now at State capture commission admit that he was in cahoots with the fraudulent crew at Transnet so law enforcement agencies must start with him.What I don't understand how come he's acting Transnet CEO?
Source: TimesLIVE - 🏆 28. / 59 Read more »

State capture inquiry hears Transnet execs could keep tenders secretJudge Raymond Zondo expressed surprise when he heard that top executives at state-owned freight rail company Transnet could choose to keep tenders secret up until they were awarded.
Source: News24 - 🏆 4. / 80 Read more »

Transnet procurement process an 'aberration', state capture inquiry hearsTop executives were able to sign off on massive tenders and contracts with little oversight, the inquiry has heard. Fin24 You probably meant 'abhorrent'.
Source: News24 - 🏆 4. / 80 Read more »

Transnet exec in state capture inquiry hot seatPeter Stephen Volmink explained how the tender procurement process works at the state-owned enterprise.
Source: eNCA - 🏆 49. / 51 Read more »

Some Transnet execs learnt of irregular contracts through media, state capture inquiry hearsMahommed Mahomedy told the state capture inquiry that a review of contracts by the new group's board uncovered a serious disregard for processes and management structures in the appointment of service providers.
Source: News24 - 🏆 4. / 80 Read more »

Acting Transnet CEO set to testify at state capture inquiryAfter probing state-run power utility Eskom, Bosasa and other entities, the inquiry turned its attention to freight rail group Transnet in early May. The group’s chairperson Popo Molefe, earlier testified that Transnet was ground zero for state capture.
Source: mailandguardian - 🏆 2. / 92 Read more »