Transnet blacklists seven companies

Transnet — Transnet Port Terminals (TPT), a division of state-owned Transnet, has successfully applied to the National Treasury to blacklist seven companies found to have engaged in serious unethical and unlawful conduct, including financial misconduct, kickback schemes, bribery, theft of company assets, collusion, and submission of false information. The move follows forensic investigations supported by the South Africa — Special Investigating Unit (SIU). The blacklisted companies will be prohibited from doing business with TPT, Transnet, and other state entities for 10 years. TPT has also instituted disciplinary proceedings against employees who colluded with these companies. Separately, Cube Infrastructure Managers (TRIM) suspended four employees over similar allegations, and earlier this year Transnet suspended nine employees, six of whom have since left the company. Transnet is working to recover embezzled funds and implementing systemic improvements to prevent future misconduct.