Fin24

Transnet breached regulations - report

2012-01-25 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.

 

Comments
  • David - 2012-01-25 09:25

    And how much did Transnet pay recently retired Acting CEO.Chris Wells? Around R1OM for 2011.

  • ludlowdj - 2012-01-25 09:40

    Transnet, spoornet, soeknet, telkom, eskom, it doesn't matter what the individual names are they are still largely government owned concerns, which are all involved in some sort of irregularity or other, so it comes as no surprise that the entire ANC led government is little more than a division of organised crime in this country with the police tasked to ensure that no one who doesn't pay kickbacks gets away with stealing money marked for theft by the authorities.

  • John - 2012-01-25 12:06

    Half the story.... How many millions?? Or is it best that us mere mortals don't have this info?? And which senior executives?? Name and shame. Please put your hands Mr Executive out so you can get a slap on the wrists

  • Jonathan - 2012-01-25 14:17

    The corruption and mismanagement of Transnet in general should be properly investigated. Billions are wasted on useless projects and little excersizes. Incompentant managers and Excecutives are apionted on the basis of their skin colour and not their abilities. Transnet has abandoned about 70,000 pensioners that has worked for many years and build the company to one of the best of its kind in the world. These pensioners does not have money to buy food and medication whilst Transnet pleads poverty and refuses to come to their aid. Try and survive on less than R1500-00 per month and that after many years of loyal service. It is a disgrace.

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