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Transnet wastes R82 million in a year

19 Aug 2011

Transnet managed to waste R82 million last year on fruitless contracts and had irregular expenditure of more than R8 billion according to a report published in Business Report.

It says that a report by the audit firm Deloitte & Touche showed irregular spending on contracts and staff amounted to R8,3 billion but adds that while the irregular expenditure could "be legitimate" it did not comply with Transnet's operational policies.

Business Report says that expenditure of R36 million that was regarded as wasteful related to just one procurement contract.

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