More Transnet deals queried

Transnet graft has been the topic of the month at the State Capture Inquiry.

JOHANNESBURG - 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.

READ: Transnet procurement, tender processes under the spotlight

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.

READ: Transnet employee accuses Molefe of 'steamrolling decisions'

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.

Source
eNCA