Parliament, Tuesday 15 March 2017 – The Standing Committee on Public Accounts (Scopa) has requested Transnet to ensure that the National Treasury has full access to all financial documents so that they can finalise its review of certain contracts and submit the report to Scopa as soon as possible.
Scopa today had a hearing with Transnet on irregular expenditure amounting to R25m and fruitless and wasteful expenditure amounting to R3.9m for the 2015/16 financial year.
Scopa has requested Transnet to submit a detailed breakdown of the R229.8m amount and the report that claimed that this amount does not constitute irregular expenditure. The report, which should include all companies and amounts that were investigated, should be forwarded to Scopa by next week Wednesday, 22 March 2017.
Despite these issues, Scopa was nonetheless satisfied with the financial health, viability and general management of Transnet. This is one of the few cases where a state-owned company has shown a good turnover of more than R60bn and profit of almost R400m.
ISSUED BY PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF SCOPA, MR THEMBA GODI
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