All data is delayed
See More

Transnet breached regulations - report

Jan 25 2012 08:14

Johannesburg - Transnet Freight Rail breached regulations when it procured goods and services from consulting companies, according to a newspaper report on Wednesday.

A forensic report compiled by auditors Nkonki found the transgressions went unpunished costing the company millions, the Sowetan newspaper reported.

The report revealed that senior group executives had been involved in wrongdoing when appointing consulting companies.

It concurred with Transnet Freight Rails' chief executive Siyabonga Gama that he was selectively disciplined.

Gama was suspended and later dismissed for breaching tender regulations. In February last year, he was reinstated.

The forensic report was commissioned by Transnet late last year following Public Protector Thuli Madonsela's inquiry on procurement irregularities at the company.

The parastatal's board is scheduled to discuss the report next week.



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote