Free Trial

Transnet Executives Apply For Bail Following Arrest

SOUTH AFRICA
  • *S. AFRICAN EX-TRANSNET CEO MOLEFE APPLIES FOR BAIL AFTER ARREST (BBG)
  • *S. AFRICA'S EX-TRANSNET CFO SINGH WANTS TO 'PROVE INNOCENCE' (BBG)
  • *S. AFRICA'S EX-TRANSNET CFO SINGH PLANS TO PLEAD NOT GUILTY (BBG)
  • Former Transnet CEO Brian Molefe, and ex-CFO Anoj Singh, appeared in a Johannesburg court on Monday following their arrests by a special police investigative unit. Molefe’s attorney applied for his bail.
  • Follows reports that South Africa’s state prosecutor said it arrested several former executives of state-owned rail and freight company Transnet SOC Ltd.
    • A judicial panel investigating state corruption released a report in February in which it identified 41.2 billion rand ($3 billion) of irregular contracts at Transnet and recommended that prosecutors investigate former Chief Executive Officer Siyabonga Gama and other officials.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.