Corporate Affairs

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    Mahomedy tackles locomotive costs, interest rate swaps at Zondo Commission

    Transnet acting CE Mohammed Mahomedy continued his testimony at the Zondo commission of inquiry into State capture on Thursday, further detailing how the State-owned entity was bleeding billions of rands as a result of irregular contracts and interest …

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    Mahomedy tackles locomotive costs, interest rate swaps at Zondo Commission

    Transnet acting CE Mohammed Mahomedy continued his testimony at the Zondo commission of inquiry into State capture on Thursday, further detailing how the State-owned entity was bleeding billions of rands as a result of irregular contracts and interest …

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    Transnet CEO tells Zondo Inquiry of irregularly awarded contracts

    Transnet’s acting group chief executive, Mohammed Mahomedy, on Wednesday told the Zondo Commission that a review of tender documents by Transnet’s new board revealed that several contracts at the state-owned freight operator had been entered into irregularly.  Mahomedy was acting CFO at Transnet before being shifted to his current role in May last year following allegations of numerous costly scandals involving former executives at the organisation. 

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    Transnet CEO tells Zondo Inquiry of irregularly awarded contracts

    Transnet’s acting group chief executive, Mohammed Mahomedy, on Wednesday told the Zondo Commission that a review of tender documents by Transnet’s new board revealed that several contracts at the state-owned freight operator had been entered into irregularly.  Mahomedy was acting CFO at Transnet before being shifted to his current role in May last year following allegations of numerous costly scandals involving former executives at the organisation. 

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    Not all deals at Transnet went through prescribed processes – acting CEO

    Not all transactions at State-owned logistics company Transnet were handled in compliance with stipulated processes, acting CEO Mohammed Mahomedy told the commission probing graft on Wednesday. “What we found was that certain transactions were approved through normal processes and some of the transactions did not go through governance processes prescribed,” Mahomedy told the Zondo commission into State capture, citing the example of the overturned appointment of phone company Neotel as a service provider in 2013.

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    Not all deals at Transnet went through prescribed processes – acting CEO

    Not all transactions at State-owned logistics company Transnet were handled in compliance with stipulated processes, acting CEO Mohammed Mahomedy told the commission probing graft on Wednesday. “What we found was that certain transactions were approved through normal processes and some of the transactions did not go through governance processes prescribed,” Mahomedy told the Zondo commission into State capture, citing the example of the overturned appointment of phone company Neotel as a service provider in 2013.

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    Work on Bosmansdam road around Century City continuing apace

    Work on the busy Bosmansdam road around the Century City precinct is continuing, with the City of Cape Town announcing on Tuesday that it will be contributing a further R20-million towards the rehabilitation of the existing road and extension of the cycle lane towards the N7 freeway. This contribution comes after the Century City developer in May 2018 invested about R40-million in the widening of the road which is a key link to the ever-expanding Century City precinct which houses retail, business and housing space.

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    Work on Bosmansdam road around Century City continuing apace

    Work on the busy Bosmansdam road around the Century City precinct is continuing, with the City of Cape Town announcing on Tuesday that it will be contributing a further R20-million towards the rehabilitation of the existing road and extension of the cycle lane towards the N7 freeway. This contribution comes after the Century City developer in May 2018 invested about R40-million in the widening of the road which is a key link to the ever-expanding Century City precinct which houses retail, business and housing space.

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    Massive decline of 48% in Easter road fatalities

    The number of Easter road fatalities has this year decreased by 48%, in comparison to 2018, Transport Minister Blade Nzimande said on Thursday. “I am pleased to announce that the number of fatalities decreased . . . from 309 in 2018 to 162 in 2019. This marks a decrease of 147 fatalities. However, government is still concerned even by a single loss of life on our roads. All provinces recorded decreases in the number of fatalities,” Nzimande told journalists in Pretoria.

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    Massive decline of 48% in Easter road fatalities

    The number of Easter road fatalities has this year decreased by 48%, in comparison to 2018, Transport Minister Blade Nzimande said on Thursday. “I am pleased to announce that the number of fatalities decreased . . . from 309 in 2018 to 162 in 2019. This marks a decrease of 147 fatalities. However, government is still concerned even by a single loss of life on our roads. All provinces recorded decreases in the number of fatalities,” Nzimande told journalists in Pretoria.

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