Since the first week of May, the state capture inquiry has heard startling revelations about the underhanded dealings that drove Transnet to the ground with insurmountable debt.
As reported by Business Day, the locomotive authority's former engineer, Francis Callard was the latest witness to testify at Deputy Chief Justice, Raymond Zondo's commission of inquiry into state capture.
State capture inquiry: Callard tells all about TransnetWhile the commission was reeling from the damning testimony of Mohammed Mohamedy, Transnet's acting group executive, Callard delivered more evidence that unveiled another layer of the rampant corruption that has gripped the locomotive authority over the years.
Related: Why Raymond Zondo's brother could soon be implicated
Witnesses testify about the 1 064 locomotive dealMohamedy had unveiled the crooked dark arts of hedge accounting that is part of the reason why Transnet currently sits with a cumulative debt bill of R23-billion.
As reported by Daily Maverick, the state parastatals shoddy contracts with two Gupta-linked companies, Regiments Capital and Trillian Capital Partners, in securing interest rate swaps on a range of loans it made from 2016 has done nothing but put it in a state of financial paralysis.
How Transnet processes were flouted to award China South RailHowever, Callard's testimony focused on the high pressure that was applied by the entities former bigwigs to see through the acquisition of 1 064 locomotives from a Chinese manufacturer.
Related: ANC decides to let Angelo Agrizzi's State Capture testimony slide
According to the former engineer, tender processes were flouted in order to see the deal through.
Callard told the commission that the bidding process for the procurement of the mass locomotive project was meant to include a cost evaluation. However, this was blatantly ignored, seemingly to cast favour in the way of China South Rail (CSR).
Bigwigs misled acquisitions committee CallardCallard also told the commission about how executives found ways to mislead the board acquisitions and disposals committee about a business case they had presented on the prospective purchase of 100 electric trains from CSR.
I developed a business case for the 100 locomotives for the coal export line. It was unilaterally changed by Transnet group executives to favour CSR. The changes and implications were material and I submit that the representation made to the [acquisitions committee] was misleading in certain respects, Callard explained.
Related: Shamila Batohi assembles state capture team to fast-track prosecutions
The former engineer explained that his model addressed many factors that affected growth in the entity, However, the then-executive, Brian Molefe, shot the idea down.
The commission has since adjourned on the topic of the state parastatal until the witnesses have been requested to reappear for potential cross-examination requests from implicated persons.
Tags: corruptionSouth Africastate capturetransnet
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
10/06/2026
DAZN-owned digital-media company launches three fan-first series leaning into cr...
10/06/2026
Clear-Com has announced the appointment of Jason Dino as Southwest Regional Sales Manager USA, covering Southern California and the Southwest region. Dino joins...
10/06/2026
An 11% decrease in number of global broadcast deals reflects the organization...
10/06/2026
The Women Without Boundaries Awards recognize women whose work is advancing the future of media, broadcast, AV, workplace technology, digital experience, and re...
10/06/2026
Today is match day minus two for FIFA and HBS. On Thursday, there will be two ma...
10/06/2026
SES is supporting broadcast distribution of the world's biggest football tou...
10/06/2026
NDI has announced that BirdDog has become the first hardware manufacturer to achieve full NDI 6.3 compatibility across its complete lineup of cameras, encoders,...
10/06/2026
Vince Caputo and Scott Carter, winners of the 2026 Sports Emmy for Outstanding Post Produced Audio have been announced as presenters for the 2026 SVG Advanced A...
10/06/2026
FOX One today unveiled a slate of new product features and enhancements designed to elevate the viewing experience for fans on the official streaming platform o...
10/06/2026
Primary production partners Dome Productions and Raycom Sports once again played...
10/06/2026
The Women in Sports Filmmaking Experienceship is an immersive professional devel...
10/06/2026
The league has expanded its HSAN architecture for the NBA Finals to manage more ...
10/06/2026
The inaugural MoonPay X Games League (XGL) Winter Draft will take place Wednesday, September 16, 2026 at Cosm Los Angeles from 7-9 p.m. PT. The event will strea...
10/06/2026
The University of Oklahoma (OU) Athletics Department and Learfield have announce...
10/06/2026
The Video Services Forum (VSF) has released TR-06-4 Part 8, a new specification for RIST Satellite-Hybrid: Out-of-Band Method. The specification creates a mecha...
10/06/2026
Riedel Communications provided the communications infrastructure for the 14th World Live Neurovascular Conference (WLNC) in Lisbon, supporting live medical proc...
10/06/2026
A still from The Doom Generation by Gregg Araki (Courtesy of Sundance Institute)
By Lucy Spicer
Have you checked out our Sundance Film Festival 101 list yet...
10/06/2026
Get Hands-On with Interfaces & Mic Preamp Brands
If youre after a new interface or preamp, then GearExpo UK is the place to be! Well have a whole host of au...
10/06/2026
November 13-14 2026, The Midway, San Francisco
Following their recent rebranding, MONO Music Conference (formerly Music Expo) have officially announced thei...
10/06/2026
Debut instrument free for limited time
deFORM is the debut release from newly founded developer ebbandflow, and it's being offered as a free download fo...
10/06/2026
Alone Australia Season 4: Meet the Cast
10 June, 2026
Media releases
WATCH THE TRAILER
Smash-hit survival series Alone Australia drops its highly anticipa...
10/06/2026
DEADLY THEN, DEADLY NOW, DEADLY ALWAYS: SBS & NITV IGNITE NAIDOC WEEK 2026 WITH ...
10/06/2026
Rohde & Schwarz and TRUMPF advance laser-based drone defense with THORIS LCS Rohde & Schwarz is showcasing THORIS at ILA 2026: A sovereign, end to end counter...
10/06/2026
MAHLE and Rohde & Schwarz develop application for sensor testing of modern drive...
10/06/2026
Production and Development Funding supports the creation of compelling, commercially viable, artistic and culturally relevant South African screen content. Deve...
10/06/2026
Media buyers and sellers can now compare YouTube reach from computer, mobile, an...
10/06/2026
Accedo, Humans not Robots, and the Institution of Engineering and Technology (IET) have announced the launch of Ecoflow X. Formerly an IBC Accelerator project, ...
10/06/2026
Frequency, the engine powering the world's leading streaming television channels, today announced that James Smith has joined the company as General Manager...
10/06/2026
At the 14th World Live Neurovascular Conference (WLNC) in Lisbon, Riedel Communications provided the communications infrastructure for live medical procedures s...
10/06/2026
Globecast, a leading provider of broadcast, media, and entertainment managed services, today announced the launch of its Content Exchange platform powered by Or...
10/06/2026
Klvr will showcase how venues, integrators and production teams are rethinking disposable battery usage at InfoComm 2026 (Las Vegas, June 17-19, booth #N6311). ...
10/06/2026
The Video Services Forum (VSF) has further enhanced the Reliable Internet Streaming Transport (RIST) protocol by incorporating a new feature, RIST Satellite-Hyb...
10/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
10/06/2026
Wednesday 10 June 2026
How to watch every ICC Women's T20 World Cup 2026 match live on Sky Sports
Where is the ICC Women's T20 World Cup 2026 availabl...
10/06/2026
Wednesday 10 June 2026
P RLA brings first-ever Beautifully Clean Oral Care'...
10/06/2026
Wednesday 10 June 2026
Sky reveals pulse-pounding first teaser trailer for upco...
10/06/2026
Wuppertal June 10, 2026
Riedel Artist at the Heart of the 14th World Live Neurovascular ConferenceAt the 14th World Live Neurovascular Conference (WLNC) in Li...
10/06/2026
Back to All News
Netflix Showcases New Mobile Experience, Collections and Games Vision in APAC
Product
10 June 2026
GlobalSouth KoreaJapan
Link copied to c...
10/06/2026
Back to All News
Ready to Join? The Netflix Fan Club Arrives at Cannes Lions
Business
10 June 2026
Global
Link copied to clipboard
Download all assets
N...
10/06/2026
Chemists snap together complex 3D molecules from highly reactive radicals-without losing their shape Scripps Research team develops stereoretentive radical-radi...
09/06/2026
Kiswe announces an expanded long-term partnership with ONE Championship (ONE), t...
09/06/2026
SiriusXM will broadcast FOX Sports' English-language commentary for all 104 FIFA World Cup 2026 matches from June 11 through July 19, available to subscribe...
09/06/2026
EVS has announced it is changing its corporate name from EVS Broadcast Equipment to EVS, reflecting the company's expanded portfolio beyond broadcast equipm...
09/06/2026
Fox Corporation and the NFL have announced a multi-year agreement to bring NFL c...
09/06/2026
FOX Sports and ReachTV, an airport media network, have announced an agreement to...
Since the first week of May, the state capture inquiry has heard startling revelations about the underhanded dealings that drove Transnet to the ground with insurmountable debt.
