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I Prevented R750m From Being Stolen From Transnet – Mathane Makgatho

mathane - I Prevented R750m From Being Stolen From Transnet – Mathane Makgatho

JOHANNESBURG – Former Transnet treasurer Mathane Makgatho said she prevented R750 million from being stolen from the parastatal.

Makgatho testified at the Zondo commission of inquiry on Thursday and revealed that her former boss and former CFO Anoj Singh wanted her to recommend a R5 billion loan from Nedbank through Gupta-linked company Regiments Capital.

Makgatho said the loan would have cost Transnet over R750 million over a five year period.

She said she became suspicious when Regiments’ fund managers presented an unsolicited proposal to her for a R5 billion loan at a time when the entity had over R13 billion in its coffers.

And she said it was Singh who wanted it to be approved.

Makgatho claimed she refused and went over Singh’s head to CEO Brian Molefe to warn him that Singh wanted to break the law.

The commission was expected to resume on Friday with Makgatho continuing her testimony.

EWN

The post I Prevented R750m From Being Stolen From Transnet – Mathane Makgatho appeared first on iAfrica.com.

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