Public Enterprise welcomes Transnet and SIU asset seizures

The Department of Public Enterprises welcomes the Special Investigative Unit’s (SIU) work at Transnet that has led to the seizure of assets belonging to one of the company’s executives.  

The order, made by the Special Tribunal established under the Special Investigating Units and Tribunals Act, was for the attachment of assets and bank accounts linked to former Transnet Capital Projects executive Herbert Msagala and relatives. The attached assets include several luxury vehicles, property and two farms.   The Department supports the steps taken by the SIU as an important part of our efforts to clean up State Owned Enterprises (SOEs), so they can be re-engineered to serve the country’s economic and strategic goals.  

The news of the seizure comes hot on the heels of steps taken by Eskom and the SIU to recoup funds lost to State Capture corruption. A set of summons was issued two weeks ago in the North Gauteng High Court to recover funds from former Eskom executives, former Board members, members of the Gupta family and their associates.  The DPE and the SOEs reporting to it will continue to work closely with the SIU to ensure that all other instances of corruption that have been uncovered at the parastatals are pursued.  
 
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