Durban - Former Transnet CEO Brian Molefe is once again under the glare of the State Capture Commission where he has taken the stand for the third day.
On Tuesday, he blamed Transnet CFO Anoj Singh for parastatal’s decision to pay Regiments Capital more than double the fee it was contractually owed for providing financial advice on the freight company’s 1,064 locomotive acquisition programme.
His testimony at the State Capture Commission on Tuesday firmly put Singh in the crosshairs.
In April 2014, Molefe approved a memorandum prepared by his CFO, Anoj Singh, to increase payments to the Gupta-linked company from R21-million to R99.5-million, purportedly rewarding the company for saving Transnet R2.8-billion.
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Molefe continued to defend allegations of his knowledge of how Gupta-linked businessman Salim Essa used shell companies to launder millions of cash from the Transnet while he was in charge between February 2011 until April 2015.
after being presented with a Money Flow report compiled by the commission’s investigators, he accepted their “preliminary” report that one of the Gupta-linked businesses Regiments Capital laundered millions in cash from Transnet to shell companies owned by businessman Salim Essa.
In the report, the investigators detailed how Molefe approved the appointment of McKinsey as Transnet transactional adviser in August 2012. Four months later, in December 2012, Regiments Capital was appointed as a supplier development partner of McKinsey.
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