Nedbank has told Transnet it is not willing to take responsibility for the governance failures that led to Gupta-linked Regiments’ looting of the coffers of the state-owned entity, with the dispute now set to head to the courts.

On Tuesday, Nedbank said the mediation talks between it and Transnet had collapsed, largely due to the insistence by the state-owned enterprise that Nedbank accept it acted in a corrupt manner in respect of interest rate swap transactions in 2015 and 2016...

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