STATE CAPTURE
Transnet agreements bypassed managers and ‘went straight to the board for approval’
Transnet acting group CEO Mohammed Mahomedy told the state-capture commission of inquiry on Wednesday that key role-players at the state-owned enterprise (SOE) and certain other companies acted against Transnet’s best interests. Mahomedy made the statement in his affidavit to the commission‚ parts of which were read by advocate Phillip Mokoena who was leading evidence. Mahomedy was the group’s acting CFO when he penned the affidavit. “I understand that there was a system where a set of key role-players and Transnet executives‚ board members and certain companies acted in consult to the detriment of Transnet’s best interests‚” Mahomedy said. He then described various transactions that flouted the company’s normal procurement processes. These transactions are now under the spotlight at Transnet. “Certain transactions were approved through normal processes and some of the transactions did not go through the governance processes prescribed within Transnet. If we look at the Neotel tra...
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