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So many red flags ignored …

Former Transnet CFO Anoj Singh has defended his decision to approve the appointment of Regiments Capital as a transaction advisor to Transnet.

Former Transnet CFO, Anoj Singh, said that the rail agency treasury could only handle mundane functions, so it was necessary to appoint Regiments Capital as transaction advisors for more complex transactions.

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 whil...

SINGH: I HAD TO BRING IN REGIMENTS! By Mfundekelwa Mkhulisi Comments Former Transnet CFO Anoj Singh testifying at the Zondo Commission on Friday. Photo by Gallo Images/Papi Morake. Credit: Gallo Images FORMER Transnet CFO Anoj Singh has told the Zondo Commission the company had no capacity to deal with the transaction of 1 064 locomotives. He said this was the reason he decided to bring in Gupta-linked company, Regiments, to help with the trains procurement with initial estimated cost of R38,6 billion which escalated to R54 billion. He told the c...