Transnet has suspended Edward Thomas, its former Group Supply Chain Officer, after the investigation of various allegations of misconduct over several contracts.
Transnet is investigating allegations of misconduct by some advisors and consultants including Regiments Capital, Trillian Advisory Services, Trillian Capital Partners and Nkonki Inc, in which Thomas is alleged to have played a role.
Thomas, who is currently Group General Manager, failed to make a representation to prevent his suspension as the Board viewed that ‘he did not provide sufficient reasons as to why he should not be placed on suspension.’
This follows from the termination of employment of its CEO, Siyabonga Gama, after allegations of serious violations of his financial, procurement and fiduciary responsibilities as Transnet CEO. As a result, the Board had lost trust and confidence in Mr. Gama’s ability to lead Transnet as CEO.
Transnet also announced that it would continue with disciplinary action against its Group Treasurer Phetolo Ramosebudi, who has since resigned. Transnet are continuing disciplinary action, despite his resignation. The investigation concerns the company’s procurement of 1,064 locomotives in 2014. The value of which escalated to more than R54bn, where Regiments Capital and Trillian acted as transaction advisors.
The Chief Procurement Officer Thamsanqa Jiyane and Supply Chain Manager Lindiwe Mdletshe have also been suspended.
Source: Transnet
