Transnet settles with security firm

Cape Town - The long-running dispute between Transnet and Abalozi Risk Advisory Services has been settled, says the parastatal.

Transnet said in a statement that it had withdrawn all litigation against the company, previously known as General Nyanda Security (GNS), "and regrets any harm that may have been caused by the handling of the matter".

GNS was founded by former SA National Defence Force chief Siphiwe Nyanda, who also served as communications minister from 2009 to 2010.

The dispute - which led to various legal proceedings - centred around agreements entered into between Transnet and GNS five years ago.

"Transnet found no evidence of wrongdoing by GNS and its founder General Siphiwe Nyanda (ret)... it [has] withdrawn all litigation against GNS."

The terms of the settlement were confidential.