Latest news with #R54b
The Citizen
30-06-2025
- Business
- The Citizen
Former Transnet top executives granted bail in R93m tender fraud case
Two MK Party MPs, Brian Molefe and Siyabonga Gama, both of whom are former Transnet executives, were granted R50 000 bail each by the Palm Ridge Magistrate Court earlier today (June 30). The pair is facing fraud and corruption charges related to Transnet's R54b locomotive tenders. Molefe, Gama, former Transnet CFO Anoj Singh and the parastatal's former engineering chief executive Thamsanqa Jiyane appeared at the court following their arrest this morning. Also rea: Former Transnet top executives Brian Molefe and Siyabonga Gama arrested While the value of the entire Transnet locomotive procurement deals was R54b, the four former Transnet executives were being charged in relation to part of the tenders, which, according to the Hawks, were worth R93m. It was the second time the two MK Party MPs, who were Transnet top executives between 2011 and 2019, were being arrested. In 2022, the two former Transnet executives were arrested in connection with part of the parastatal's same R54b locomotive procurement, which involved a Gupta-linked company called Trillian Capital. According to evidence before the Palm Ridge Commercial Crimes Court, Trillian Capital was awarded contracts irregularly at different phases during the procurement process without participating in open bids. Molefe, who was Transnet CEO from February 2011 to April 2015, was succeeded by Gama, who was previously the CEO of Transnet subsidiary Transnet Freight Rail. Also read: R18,8b Transnet recovery loan approved In 2018, the Transnet board commissioned a forensic investigation into the R54b locomotive tenders. The law firm appointed by the board, Mncedisi Ndlovu Sedumeni, found that the payments which Trillian received from Transnet were irregular. Molefe and Gama were also implicated in the Zondo Commission which investigated state capture and corruption. In its report, the commission recommended that Molefe and Game should face a criminal investigation. Meanwhile, the MK Party urged the courts to ensure that Molefe and Gama received a fair trial. Read original story on At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
24-05-2025
- Business
- The Citizen
Gauteng infrastructure under scrutiny as MEC calls for rapid repairs
Gauteng infrastructure under scrutiny as MEC calls for rapid repairs The MEC for Infrastructure Development and Co-operative Governance and Traditional Affairs (CoGTA), Jacob Mamabolo, met with senior officials this week to refocus efforts on urgent infrastructure problems in the province. The meeting took place at the Tshwane Regional Hub and included the heads of Infrastructure Development and CoGTA, as well as the CEO of the Gauteng Infrastructure Financing Agency (GIFA). Mamabolo called for relaunching the A-team – a group of engineers, artisans, inspectors and planners – to speed up repairs in areas affected by sinkholes, unsafe buildings, and failing infrastructure. He said the team must now move from planning to action. 'We can't fix our problems without trust and empower professionals,' he said. The MEC also encouraged better team collaboration, saying, 'We're under one roof now – let's act like it.' As part of their work, the A-ieam will assess more than 4 000 public buildings and assets, worth over R54b. This will help guide future repairs and upgrades. With help from GIFA, they'll also create strong business cases to attract funding. Mamabolo told the team to focus on real results and to be visible in communities. 'We need to see action on the ground,' he said. The A-team gave a progress report so far and promised to speed up their work in the future. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
23-05-2025
- Business
- The Citizen
Gauteng infrastructure crisis: MEC calls for swift intervention
The MEC for Infrastructure Development and Co-operative Governance and Traditional Affairs (CoGTA), Jacob Mamabolo, met with senior officials this week to refocus efforts on urgent infrastructure problems in the province. The meeting took place at the Tshwane Regional Hub and included the heads of Infrastructure Development and CoGTA, as well as the CEO of the Gauteng Infrastructure Financing Agency (GIFA). Mamabolo called for relaunching the A-team – a group of engineers, artisans, inspectors and planners – to speed up repairs in areas affected by sinkholes, unsafe buildings, and failing infrastructure. ALSO READ: Gauteng police sweep nets over 400 arrests in crime hotspots He said the team must now move from planning to action. 'We can't fix our problems without trust and empower professionals,' he said. The MEC also encouraged better team collaboration, saying, 'We're under one roof now – let's act like it.' As part of their work, the A-ieam will assess more than 4 000 public buildings and assets, worth over R54b. This will help guide future repairs and upgrades. With help from GIFA, they'll also create strong business cases to attract funding. Mamabolo told the team to focus on real results and to be visible in communities. 'We need to see action on the ground,' he said. The A-team gave a progress report so far and promised to speed up their work in the future. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
23-05-2025
- Business
- The Citizen
MEC calls for rapid response to fix Gauteng infrastructure
The MEC for Infrastructure Development and Co-operative Governance and Traditional Affairs (CoGTA), Jacob Mamabolo, met with senior officials this week to refocus efforts on urgent infrastructure problems in the province. The meeting took place at the Tshwane Regional Hub and included the heads of Infrastructure Development and CoGTA, as well as the CEO of the Gauteng Infrastructure Financing Agency (GIFA). Mamabolo called for relaunching the A-team – a group of engineers, artisans, inspectors and planners – to speed up repairs in areas affected by sinkholes, unsafe buildings, and failing infrastructure. ALSO READ: Gauteng police sweep nets over 400 arrests in crime hotspots He said the team must now move from planning to action. 'We can't fix our problems without trust and empower professionals,' he said. The MEC also encouraged better team collaboration, saying, 'We're under one roof now – let's act like it.' As part of their work, the A-ieam will assess more than 4 000 public buildings and assets, worth over R54b. This will help guide future repairs and upgrades. With help from GIFA, they'll also create strong business cases to attract funding. Mamabolo told the team to focus on real results and to be visible in communities. 'We need to see action on the ground,' he said. The A-team gave a progress report so far and promised to speed up their work in the future. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
23-05-2025
- Business
- The Citizen
MEC orders swift action on Gauteng's failing infrastructure
The MEC for Infrastructure Development and Co-operative Governance and Traditional Affairs (CoGTA), Jacob Mamabolo, met with senior officials this week to refocus efforts on urgent infrastructure problems in the province. The meeting took place at the Tshwane Regional Hub and included the heads of Infrastructure Development and CoGTA, as well as the CEO of the Gauteng Infrastructure Financing Agency (GIFA). Mamabolo called for relaunching the A-team – a group of engineers, artisans, inspectors and planners – to speed up repairs in areas affected by sinkholes, unsafe buildings, and failing infrastructure. ALSO READ: Gauteng police sweep nets over 400 arrests in crime hotspots He said the team must now move from planning to action. 'We can't fix our problems without trust and empower professionals,' he said. The MEC also encouraged better team collaboration, saying, 'We're under one roof now – let's act like it.' As part of their work, the A-ieam will assess more than 4 000 public buildings and assets, worth over R54b. This will help guide future repairs and upgrades. With help from GIFA, they'll also create strong business cases to attract funding. Mamabolo told the team to focus on real results and to be visible in communities. 'We need to see action on the ground,' he said. The A-team gave a progress report so far and promised to speed up their work in the future. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
