Finance minister turns down bailout request from Transnet whose failings have cost the economy over US$26 billion, Tough decisions and strong political backing are needed to turn around the ailing state-owned transport and logistics company, Transnet which could face a ratings downgrade. Structural and wide-ranging organisational changes are needed to rebuild the broken national logistics system. Its failures are costing the economy billions of rand every year.
Former Transnet chief executive Siyabonga Gama denied any involvement in the hiring of Gugu Gigaba a sister of former cabinet minister Malusi Gigaba, during testimony before the State Capture Commission of Inquiry on Friday.
Earlier this week, Gigaba’s estranged wife, Norma Mngoma, appeared before the inquiry and said Gigaba had played a role in the hiring of his sister at Transnet, through Gama.
According to Mngoma on Monday 26 April, Gugu Gigaba had moved into the Gigabas’ home when she moved to Johannesburg from KwaZulu-Natal. Mngoma said her husband had told her that he would “speak to Siyabonga Gama about finding her a job at Transnet”.