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Transnet Group Acting CEO Mohammed Mahomedy has told the State Capture Commission in Parktown, Johannesburg, that Transnet irregularly paid Gupta-linked Regiments Capital over R280 million for a contract that was originally set at R35 million.
He says Transnet was paying Regiments for services which were contractually meant to be provided by consulting firm, McKinsey.
He says McKinsey did not go through a proper tender process to subcontract Regiments yet the then Transnet CEO, Anoj Singh approved direct payments to Regiments.
