Publications
Partners
Transnet Group Treasurer Phetolo Ramosebudi has resigned with immediate effect, the entity has confirmed.
He tendered his resignation after being suspended.
"Please be advised that Transnet’s Group Treasurer, Mr. Phetolo Ramosebudi has tendered his resignation with immediate effect after being served with a notice of intent to suspend him," Transnet said in a statement on Thursday afternoon.
Earlier, investigative reports had been published detailing Ramosebudi's work as an "inside man" for controversial financial services firm Regiments Capital, among other things.
Transnet said it had suspended him prior to the publication of the media reports.
"The notice for suspension took place earlier this week, before today’s media reports.
"Transnet reserves its rights to exercise any action against him," the statement added.
Ramosebudi was group treasurer at multiple state-owned entities, including Airports Company South Africa (ACSA), South African Airways (SAA) and, most recently, Transnet.
During his time at these state-owned entities, Ramosebudi reportedly leaked confidential information and facilitated the payments of hundreds of millions in fees to the controversial Gupta-linked advisory firm Regiments Capital.
According to a report by AmaBhungane, Regiments, in turn, was asked to pay over R6m to Ramosebudi's private companies and those of a relative, via several invoices which were delivered to Regiments director Eric Wood. These invoices were for seemingly disparate services, including the supply of alcohol and the services of a personal trainer.
* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
