Public Enterprises welcomes Transnet resignation

Friday, April 20, 2018

Public Enterprises Minister Pravin Gordhan has welcomed the resignation of Transnet Chief Financial Officer and executive director, Garry Pita.

“His resignation was duly accepted by the Transnet board. The Minister has welcomed his resignation,” said the department’s acting Director General, Makgola Makololo.

Makololo said Transnet has been faced by a series of allegations of deep corruption and malfeasance, with highly suspicious and questionable financial transactions.

She said this was to the detriment of the rail, port and pipeline company’s reputation.

The current Transnet board is yet to provide credible explanations of how such transactions were approved or indeed condoned over successive financial years.

“It also needs to explain how it had exercised its fiduciary duties in the context of a plethora of information in the public domain showing how Transnet became a target of State capture. Therefore, the resignation of Mr Pita does not absolve him of accountability, should he be found to have had a role in any way or form,” said Makololo.

Transnet is one of six entities that fall under the ambit of the Department of Public Enterprises. -

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