Transnet defends integrity of its procurement processes
Transnet has defended the integrity of its procurement processes following recent reports
Questions have been raised around the parastatal’s acquisition of locomotives, but Transnet says it is confident that their procurement processes have sufficient checks and balances to guarantee integrity.
"These include oversight at various governance levels," the state owned company says.
The leader of the Economic Freedom Fighters (EFF), Julius Malema, told the media earlier today that the party has proof of alleged tender irregularities at Transnet.
Malema claims to have information that R17 billion was lost in corruption over procurement of 1064 locomotives.
"Our country has been sold to the highest bidder,” he said.
He added that this extreme level of corruption is worse than treason.
But Transnet says all contracts above a certain threshold is checked by an independent auditing firm.
"Alongside process, one of the key considerations is value in terms of the competitiveness of the bid," Transnet says.