Transnet agreements bypassed managers and ‘went straight to the board for approval’

Transnet acting group CEO Mohammed Mahomedy told the state-capture commission of inquiry on Wednesday that key role-players at the state-owned enterprise and certain other companies acted against Transnet’s best interests.

“I understand that there was a system where a set of key role-players 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.

Neotel secured a R4.9bn contract from Transnet to upgrade CCTV systems at the country’s ports without a competitive bidding process being finalised.

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