Cape Town - The long-running dispute between port, rail and pipeline company Transnet and Abalozi Risk Advisory Services has been settled, the parastatal announced on Monday.
In a statement, Transnet said it had withdrawn all litigation against the company, previously known as General Nyanda Security (GNS), “and regrets any harm that may have been caused by the handling of the matter”.
GNS was founded by former SA National Defence Force chief Siphiwe Nyanda, who also served as communications minister from 2009 to 2010.
The dispute - which led to various legal proceedings - centred around agreements entered into between Transnet and GNS five years ago.
“Transnet found no evidence of wrongdoing by GNS and its founder General Siphiwe Nyanda (ret)... it (has) withdrawn all litigation against GNS.”
Further, it regretted any harm its actions may have caused to the image of GNS, as well as it founders, Nyanda and Sylvester Sithole.
Transnet said it would withdraw all claims against GNS, while GNS had “agreed to withdraw all its counterclaims against Transnet”.
The terms of the settlement were confidential.
Using independent attorneys, Transnet had conducted “a vigorous and exhaustive investigation” of all matters relating to the dispute.
This had found that Transnet derived full benefit from the amounts incurred on all contracts with GNS, and there had been no wrongdoing by GNS, Nyanda, Sithole or any of the company's officials.
“Transnet wishes to confirm that the blacklisting of GNS was lifted in 2013. It was procedurally and substantially unfair - it did not comply with the board-approved procedures and processes.
“Further, both GNS and all individuals associated with the company are free to do business with Transnet,” it said. - Sapa