Outa welcomes the suspension of three Transnet executives. Photo Supplied

Parliament - Parliament's watchdog on public account on Friday said it had instructed the Transnet board and management to curb graft at the state-owned company.

"The Standing Committee on Public Accounts (Scopa) has told the Transnet Board and management to stop the looting because the business is able to sustain itself very well because it makes money due to it being a monopoly," Scopa said in a statement. 

"The alleged corruption and looting of resources is what is impacting negatively on Transnet."

The comments by Scopa came after its members of Parliament (MPs) conducted an oversight visit at Transnet's headquarters in Johannesburg, which coincided with the board serving notices of suspension on chief executive Siyabonga Gama and two other top senior officials. 

Gama, chief procurement officer Thamsanqa Jiyana and supply chain manager Lindiwe Mdletshe have been given until Monday to give reasons why they should not be suspended.

The board moved against the three after reports from Werksmans Attorneys and forensic investigators revealed "various acts of possible misconduct against the three employees" and recommended further investigations be carried out to establish the extent of it, Transnet had said in a statement.

The state-owned transport and logistics company is at the centre of an investigation by authorities over possible fraud, corruption and money laundering regarding the procurement of locomotives. The "state-capture" is linked to the fugitive Gupta family and involves an amount of R38.6 billion.

African News Agency (ANA)