Zondo asks how Transnet’s ‘alarming carelessness’ in train deal was possible
‘How can you miss using the correct currency for something like this?’ Raymond Zondo asked Transnet engineer Francis Callard
State capture commission chair deputy chief justice Raymond Zondo has lashed out at Transnet's “alarming carelessness” over its handling of the controversial multibillion rand acquisition of 100 locomotives
On Monday, Zondo expressed shock that those who edited former Transnet engineer Francis Callard’s initial business case for acquisition of the locomotives failed to adhere to correct foreign-exchange rates. Callard’s business case recommended Japanese locomotives supplier Mitsui to ensure compatibility with a fleet purchased earlier from the firm, and was signed by former executives Siyabonga Gama, Anoj Singh, Gary Pita and current acting group CEO Mohammed Mahomedy in October 2013. However, the business case document was later edited to reflect Gupta-linked China South Rail (CSR) as the recommended supplier in the deal worth R3.8bn, which later ballooned to nearly R5bn.