Home South Africa News More Transnet deals queried

More Transnet deals queried

TRANSNET

Transnet agreed to increase an advisory fee by a massive 754 percent.

The money was paid to Regiments Capital Partners in connection with a bank loan.

Transnet graft has been the topic of the month at the State Capture Inquiry and the scale of the looting is staggering.

A contract involving the firm BEX, linked to Gupta associate Salim Essa, is at issue.

BEX received R36-million linked to a deal between Transnet and China North Rail.

Friday’s second witness described Transnet paying millions to Regiments.

Proceedings resume on Monday.

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Source: eNCA