Gallo Images/Papi Morake
Former Transnet CFO Anoj Singh defended the decision to appoint Regiments Capital as a transaction advisor.
Singh said there was no capacity in Transnet s treasury to handle this transaction and funding facility for the locomotive, which needed to raise R50 billion.
He denied instructing Transnet treasury staff into expediting the approval of Regiments-linked transaction advisory contracts.
Former Transnet chief financial officer Anoj Singh again defended the decision to appoint Regiments Capital as a transaction advisor on major transactions Transnet undertook while he was at the state-owned freight and logistics company.
Singh returned to the Judicial Commission of Inquiry into State Capture chaired by Deputy Chief Justice Raymond Zondo on Friday morning after he was grilled about the process behind Regiments Capital taking on the role of a transaction advisor for a loan facility at Transnet.
Deputy Chief Justice Raymond Zondo felt prompted to ask the former Transnet CFO to clarify his statement: “Do you think people will remember that more than the corruption?’’
Former Transnet CFO Anoj Singh has told the commission of inquiry into state capture that he was not in cahoots with Gupta associate Salim Essa, nor was he incompetent when billions of rands were looted from Transnet.
Singh battles to explain why some transactions were made which benefitted Essa Testifying at the state capture commission on Thursday, former Transnet CFO Anoj Singh said that he could not explain why he signed an addendum that saw consultancy firm Trillian inherit Regiments stake of a McKinsey contract. A screengrab of former Eskom CFO Anoj Singh appearing at the state capture inquiry on 22 April 2021. Picture: SABC/YouTube
2 days ago
JOHANNESBURG - Former Transnet CFO Anoj Singh has battled to explain why certain transactions were made which benefitted Gupta associate, Salim Essa.
Testifying at the state capture commission on Thursday, Singh said that he could not explain why he signed an addendum that saw consultancy firm Trillian inherit Regiments stake of a McKinsey contract.
Gallo
Former Transnet chief financial officer (CFO) Anoj Singh returned to the hot seat at the State Capture Inquiry to answer questions on his relationship with Gupta-linked businessman Salim Essa, in relation to the state-owned freight and logistics group.
The Thursday morning session focused on the procurement of the 1 064 locomotive, which Transnet undertook with McKinsey & Company, with Regiments Capital being brought along as transaction advisors and a supply development partner, respectively.
On Tuesday, Transnet issued a statement in which it announced that McKinsey had agreed to pay back R870 million for the consulting work it did alongside Regiments Capital. Support independent journalism