The SOE was allegedly compromised by former executives and board members who pushed through questionable transactions to benefit themselves, close friends and associates.
More testimony on how the abuse of power and neglect of fiduciary duty by former Transnet executives compromised the state-owned enterprise’s governance systems will dominate when the Commission of Inquiry into State Capture resumes today.
Went out of their way to assist China South Rail in its bid to appoint the company to supply 95 locomotives, which compromised the integrity of procurement processes, with Molefe communicating with CSR during the bidding. The Transnet board approved confinement to CSR on January 24, 2014, before receiving a proposal from it.
The report reads: “CSR was irregularly appointed in that it should have been disqualified for receiving bid documents unlawfully.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State capture inquiry switches focus to TransnetThe state capture commission is set to continue Monday morning but will deal with matters related to Transnet.
Read more »
LIVESTREAM: Transnet on the stand at state capture inquiryTransnet has been marred by corruption allegations involving billions of rand.
Read more »
State capture inquiry gears up to probe ex-Transnet CEO Brian Molefe's appointmentThe circumstances around the 2011 appointment of former Transnet CEO Brian Molefe will be probed by the judicial commission of inquiry into state capture over the next two weeks.
Read more »
Transnet chair Popo Molefe set to take the stand at state capture inquiryAfter investigating Eskom, the inquiry has turned its attention to probing allegations of fraud, corruption and kickbacks at the state-run freight rail group.
Read more »
Transnet under scrutiny at state capture inquiryThe state capture inquiry heard on Monday how Transnet paid millions to companies who did not provide any services.
Read more »
WATCH LIVE | Transnet chair Popo Molefe in hot seat at state capture inquiryWATCH LIVE | Transnet chairperson Popo Molefe is expected to take the StateCaptureInquiry stand today.
Read more »
LIVE: Transnet chair Popo Molefe takes the stand at state capture inquiryTransnet chairperson Popo Molefe is set to give evidence before the judicial commission of inquiry into state capture, as the inquiry turns its attention to probing allegations of fraud, corruption and kickbacks at the state-run freight rail group.
Read more »
Brian Molefe, Siyabonga Gama and Anoj Singh 'architects of state capture' at TransnetStateCaptureInquiry | Brian Molefe, Siyabonga Gama and Anoj Singh 'architects of state capture' at Transnet
Read more »
Brian Molefe, Siyabonga Gama and Anoj Singh 'architects of state capture' at TransnetStateCaptureInquiry | Brian Molefe, Siyabonga Gama and Anoj Singh 'architects of state capture' at Transnet
Read more »