More culprits added to Transnet corruption case
South African prosecutors added McKinsey and a former partner at its local office to a corruption case against former leaders of Transnet.
South African prosecutors added McKinsey and a former partner at its local office to a corruption case against former leaders of Transnet.
Beleaguered state-owned Transnet is fast becoming South Africa’s next Eskom, says the African Rail Industry Association’s Mesela Nhlapo.
Former Transnet executives Brian Molefe and Anoj Singh plan to plead not guilty to a host of fraud and corruption charges following their arrest on Monday.
Zondo’s latest report on Transnet is a sordid tale of corruption and money laundering detailing how the Guptas and their cronies made off with at least R41.2bn.
“Many energy experts said De Ruyter was out of touch with what was happening on the ground at Eskom. They were proven right by the CSIR’s data.”
Transnet said it plans to scrap contracts worth billions of dollars awarded to companies, including General Electric and Bombardier, reports Bloomberg.
Simon Lincoln Reader points out that corruption might be better hidden in the first world, it can be sniffed out by the same stench in any country.
Romeo Kumalo told axed Eskom executives that an independent inquiry would take long, forcing them to accept a settlement.
According to former Minister of Public Enterprises, Lynne Brown, Molefe’s appointment was negotiated through the boards of Transnet and Eskom.
Former Eskom CEO Brian Molefe has lost his Constitutional Court case over the R30m pension he received from the power utility.