Transnet board chairperson Popo Molefe yesterday told Business Report in an interview that the recovery formed part of the clean-up campaign to recoup monies paid when the transaction grew from the original estimate of R45 billion to R54bn. Picture: Supplied

CAPE TOWN –  Good morning. This is all the latest business news that you need to know today.

1. Transnet board goes after fleeced billions

Transnet has embarked on a programme to recover excess funds paid to original equipment manufacturers (OEMs) and transactional advisers in the ill-fated tender to acquire 1 064 locomotives during fired chief executive Siyabonga Gama’s tenure.

2. Renergen rights offer seeks R218m debt facility

Alternative exchange (AltX) listed energy company Renergen yesterday offered more details of its previously announced R125 million rights offer as it moves towards a dual listing.

3. African leaders head to SA for investment forum

The Africa Investment Forum will kick-off in Johannesburg on Wednesday, in a bid to provide an open platform to multilateral institutions, governments and the private sector to improve the pipeline of projects that can transform the continent.


4. SA Breweries awards liquor traders with development certificates

South African Breweries (SAB) on Tuesday awarded licensed liquor traders with the Retailer Development Programmer (RDP) certificates at a ceremony held in Brynston, Gauteng.

5.Group Five moves to halt $62.7m Kpone payment

 Group Five has applied to the high court in Johannesburg for an urgent interdict to stop the owners of the $410 million (R5.85 billion) Kpone gas and oil-fired power plant in Ghana from demanding payment of $62.7m from two of the bank guarantee providers for the project. 

6. InvestSA, World Bank host FDI capacity building workshop

InvestSA, a division of the Department of Trade and Industry (the dti) and the World Bank are hosting a three-day Foreign Direct Investment Strategy consultation. 

7. Cryptocurrencies high on WEF agenda

 Globalisation and the interaction between governments and participants in the fourth industrial revolution — including players from the cryptocurrency industry — will be the main theme of the World Economic Forum (WEF) in Davos from January 22 to 25. 

BUSINESS REPORT ONLINE