Board members satisfied with Transnet current state - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Transnet Board of Directors says it is satisfied that the state-owned entity is now on the right footing regarding its financial affairs.

The company says most of these workers have either since resigned or were dismissed.

The freight rail utility was briefing Parliament on progress made regarding internal investigations of misconduct by Transnet employees. Transnet Chief Legal Officer Sandra Coetzee says all 17 investigations that were conducted together with the Special Investigating Unit have since been completed. “The assets available to be monetized is R26 million. The process of monetizing those assets relates to the disposal be that being in the form of an auction or some other form of a sale to recover the money itself. We have already recovered financial over 14 million of 26 million in asset value. This is an ongoing process in collaboration with the SIU.”Share article

 

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