03 May Resignation of TRANSNET Directors
The Ministry of Public Enterprises had convened a second Shareholder’s meeting for tomorrow, Friday 4 May 2018, with the TRANSNET board of Directors.
Preceding the meeting, the Ministry was informed of the resignation of the Chairperson of TRANSNET, Ms Linda Mabaso.
I accepted her resignation, which took effect immediately.
I have also received and accepted the resignations of Mr Vusi Nkonyane and Ms Yasmin Forbes as Non-Executive Directors.
On 19 April this year, the TRANSNET Chief Financial Officer and Executive director, Mr Garry Pita, had also resigned.
Under the authority of the current Board, TRANSNET, which has the duty to provide and maintain key transport and logistics infrastructure in order to promote the competitiveness of the South African economy, became embroiled in serious allegations of flagrant corruption and state capture. These allegations will be thoroughly investigated.
The Shareholder’s meeting tomorrow will proceed as planned. New appointments to the TRANSNET board will be announced soon.