Transnet on Monday announced the termination of its relationship with Gupta-linked Trillian and Regiments Capital. The company indicated that it had also set aside R20 billion for future acquisitions as part of its plan to expand its services beyond its core business as a port and rail operator. This was according to the company’s chief executive Siyabonga Gama. Transnet and Trillion were both mentioned in former public protector Thuli Madonsela’s State of Capture report which noted that both companies were worthy of being investigated. In her report Madonsela said that both companies invoiced Transnet for work that was not done and that this needed to be closely looked at. In a media interview on Monday, Gama responded to this and said that he was satisfied that it got value for money from Trillian and Regiments Capital. He did however add that “As Transnet we have resolved that a continued relationship either with Trillian or Regiments is no longer in our interests.” An advocate has been appointed by Trillian chairman Tokyo Sexwale to look into Madonsela’s allegations. Madonsela’s report also indicated that the investigation into Transnet will form part of “the next phase of the investigation”.
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