Transnet reveals R49bn in irregular expenditure, remains committed to clean up

PUBLISHED: Mon, 30 Sep 2019 15:40:41 GMT


South African Logistics firm, Transnet is feeling the impact of trade wars. It reported a 1.6 per cent increase in revenue to R74 billion with profit up by 24.7 per cent to R6 billion. The freight logistics chain added that its auditors highlighted issues relating to irregular expenditure worth R49 billion. Transnet Acting CEO, Mohammed Mahomedy joins CNBC Africa for more.

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.