JOHANNESBURG – Former Transnet group treasurer Mathane Makgatho on Friday told the state capture inquiry that it was an “open secret” that there was a lot of money moving around in the state-owned company’s head office during the processing of the controversial locomotives tender, which was riddled with fraud and corruption.
Makgatho testified for a second day on Friday at the commission which has shifted its focus to Transnet.
She claimed the car boots of certain officials were known to be filled with cash.
She detailed the company’s interactions with the China Development Bank over funding terms for the loan that financed the locomotives deal.
On Thursday, she explained how she prevented R750 million from being stolen from the parastatal. She further stated that she prevented former CFO Anoj Singh from effecting R5 billion loan from Nedbank through Gupta-linked company Regiments Capital.