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Zondo report finds racketeering occurred at Transnet

And that it was the ‘primary site of state capture in financial terms’.
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A South African judicial inquiry put members of the Gupta family who were friends of former President Jacob Zuma at the centre of crimes that took place at state-owned Transnet SOC Holdings.

The probe found that racketeering occurred at the company and that it was the “primary site of state capture in financial terms,” according to a report published Tuesday. It recommended further investigation by law-enforcement agencies into former Transnet chief executive officers Brian Molefe and Siyabonga Gama, and ex-chief financial officer Anoj Singh for possible prosecution.

Read: Corrupt practices brought Denel to its knees – Zondo report

The panel, headed by acting chief justice Raymond Zondo, said testimony provided at the inquiry estimated that irregular contracts at Transnet totalled R41.2 billion.

“This amount represents 72.21% of the total state payments in respect of contracts tainetd by State Capture,” it said.

© 2022 Bloomberg

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Aag surely not – Zondo must be mistaken !!

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