Transnet says irregular expenditure at R9.97bn

Transnet said on Friday irregular expenditure in 2020 was lower at R9.97 billion compared to R18.51 billion in the previous year.

Transnet, which operates nearly three-quarters of Africa’s rail network, the bulk in South Africa, has been investigating allegations of corruption. It blamed contracts in previous years for the spending that did not comply with prescribed by legislation.

The company said the cumulative irregular expenditure including 2019/20 was R114.3 billion.