South Africa

State to ring-fence Transnet’s billions of irregular expenditure

Plans to ring-fence tens of billions of rand of irregular expenditure at SA’s rail and port utility Transnet are under discussion by the National Treasury, the auditor-general and the department of public enterprises, Pravin Gordhan said on Friday.

Speaking at the release of Transnet’s annual results, which showed cumulative irregular expenditure of R114bn, public enterprises minister Gordhan said the talks are designed to secure clean audit findings for the state-owned entity (SOE).

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