Former Transnet treasurer to take the stand at State Capture inquiry

Former group treasurer of Transnet, Mathane Makgato is expected to take the stand on Thursday at the Commission of Inquiry into allegations of State Capture’s hearings in Parktown, Johannesburg.

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On Wednesday, Dr. Jonathan Bloom of Multipurpose Business Solution told the commission that payment of R7.5-million charged by the Gupta-linked Regiments Capital to Transnet for the facilitation of a loan from the China Development Bank amounted to fraud.

He told the Commission that Regiments had no contract in place with Transnet for this transaction.

Bloom testified that Regiment’s agreement was with JP Morgan and not with Transnet; therefore, there was no justification for Regiments’ invoice to Transnet.