Weekly Press Review – 21 May 2018

Transnet has appointed a new CFO after a scandal involving the Gupta family. According to the press, Transnet has appointed Mohammed Mahomedy as the interim chief financial officer to take over from Garry Pita who resigned last month amid the financial scandal. Public Enterprises Minister Pravin Gordhan has also appointed a new Transnet interim board … Continue reading Weekly Press Review – 21 May 2018

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Weekly Press Review – 12 March 2018

Transnet has launched a new company, Transnet International Holdings (TIH), to facilitate multiple rail, port and pipeline projects in Africa. According to the press, with a capital injection of R100 million, TIH held its inaugural annual general meeting this week with the aim of commencing trade on 1 April. Transnet chief executive Siyabonga Gama says … Continue reading Weekly Press Review – 12 March 2018

Weekly Press Review – 5 March 2018

Transnet has launched a new company, Transnet International Holdings (TIH), in order to facilitate multiple rail, port and pipeline projects in the rest of Africa. According to the press, TIH, with a capital injection of R100 million, held its inaugural general meeting this week to appoint board members. Transnet chief executive Siyabonga Gama said that … Continue reading Weekly Press Review – 5 March 2018

Weekly Press Review – 6 November 2017

Transnet is distancing itself from the kickbacks scandal currently rocking the state-owned rail and logistics group. According to the press, the scandal includes allegations that some of its suppliers paid third parties millions of rands in order to win tenders. Chief executive, Siyabonga Gama said, “These allegations are made against Transnet suppliers, where it is … Continue reading Weekly Press Review – 6 November 2017

Weekly Press Review – 31 October 2017

 Transnet has instituted a group-wide investigation into its contracts and suppliers amid the rampant allegations of rent seeking and kickbacks at state-owned companies.  According to the press, chief executive Siyabonga Gama said that the company was dealing with allegations of wrong-doing in its contracts, insisting that the problem was not about Transnet governance processes or … Continue reading Weekly Press Review – 31 October 2017

Weekly Press Review – 21 August 2017

South Africa’s weak economy is impacting those renting Transnet sites in the country’s eight commercial harbours. According to the press tenants of Transnet sites have stated that if the economy continues on its current path they will have no choice but to renegotiate their contracts or simply return their sites to Transnet. At present TNPA … Continue reading Weekly Press Review – 21 August 2017

Weekly Press Review – 14 August 2017

JSE-listed Sea Harvest has acquired a new freezer trawler from listed Icelandic fishing company, HB Grandi. According to the press, the vessel, the MV Therney, was built in Sterkoder yard in Norway. The group said that there are currently three Sterkoder class vessels in South Africa, two owned by Irvin & Johnson, and one acquired … Continue reading Weekly Press Review – 14 August 2017