Former Transnet executives granted bail

Photo: Daily Maverick

Four former Transnet executives have each been granted bail of R50,000 by the Palm Ridge Specialised Commercial Crimes Court in Gauteng. They face serious charges that include corruption, fraud, and money laundering in connection with a R93 million locomotive tender from 2015, part of a broader R54 billion deal tainted by ties to the Gupta family network.

The accused are former Transnet CEOs Brian Molefe and Siyabonga Gama, former Chief Financial Officer Anoj Singh, and ex-Chief Procurement Officer Thamsanqa Jiyane. According to IOL, they appeared in court following their arrest by the Investigating Directorate Against Corruption (IDAC). The bail hearing was brief, with the case adjourned until October to allow further investigation.

According to prosecuting authorities, the charges stem from a suspicious locomotive procurement process in 2015, during which payment of around R93 million was allegedly diverted to a Gupta-affiliated company Trillian Capital. The controversial acquisition formed part of Transnet’s R54 billion locomotive expansion. Evidence gathered from the Zondo Commission of Inquiry and forensic accounts indicates that the tender involved inflated prices and irregular awards to non-bid companies linked to the Guptas.

The GOOD Party hailed the developments as a meaningful milestone in the fight against state capture, with its Secretary-General, Brett Herron, stating that the arrests “mark real progress in holding those involved in state capture accountable”.