Transnet moves to suspend eight senior executives
Transnet has already fired group CEO Siyabonga Gama, suspended other senior executives and issued summonses to recover money lost in the procurement of 1,064 locomotives
Eight senior executives at Transnet, who have been implicated in forensic reports dating as far back as 2011, have been issued precautionary suspension letters. The state-owned rail and freight company said it was giving the executives 48 hours to provide reasons they should not be suspended. Transnet acting CEO Tau Morwe said the letters were issued to senior executives ranging from general managers to executive managers. “Recommendations emanating from the reports were not followed up by the management. We have been receiving anonymous complaints from employees about some of the allegations covered in the reports,” he said. Transnet and other state-owned entities were used for looting as part of state capture. The company is expected to appear before the state capture commission of inquiry later this year. Since the new board was appointed in 2018, it has been moving to clean-up the entity and take action against those implicated in maladministration and malfeasance in the parasta...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.