Statecaptureınquiry

Statecaptureınquiry

Zondo hears how millions were squandered at Transnet as Mahomedy concludes testimony | IOL News

#StateCaptureInquiry: Zondo hears how millions were squandered at Transnet as Mahomedy concludes testimony

16.5.2019

StateCaptureInquiry: Zondo hears how millions were squandered at Transnet as Mahomedy concludes testimony

Transnet acting chief executive officer Mohammed Mahomedy has told the Zondo commission in detail how Transnet squandered millions.

Mahomedy summed up the payments as follows; R41 million, R23,9 million, R38,7 million, R11,4 million and R93 million.

Mahomedy said he was surprised to see that the payment had been made to Trillian for services that he was supposed to sign off on.

He also told the commission how Transnet executives halted a contract with auditing firm Nkoni which would have seen the company pay close to a billion rand without proper processes being followed.

“They asked for three things which included procurement optimisation, bring in savings on procurement contracts, coal line optimisation and to engage with customers and tariffs. Those were the three issues and they were approved,” he said.

Mahomedy said the contract was stopped and Transnet did not pay the money.

In one instance, Mahomedy said with the China South Railway deal the submission for the procurement of the locomotives was sent to the minister of public enterprises and the board of directors. It did not follow the usual chain of approval through the management and board committees.

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