Transnet CFO Garry Pita resigns

Transnet’s chief financial officer Garry Pita has resigned.

“Mr Pita rendered his resignation after 12 years in service at Transnet,” the group said in a statement this evening.

Pita joined Transnet in 2006. He was appointed as the group’s chief financial officer in February 2016 to replace former Transnet CFO Anoj Singh.

Singh was suspended amid claims he was involved in irregularly awarding contracts to Gupta-linked businesses and receiving gifts and overseas trips from the controversial family. He later resigned.

Pita was himself implicated in endorsing a memorandum drafted by Singh to enter into a contract with Neotel in February 2015, Fin24 reports.

The deal was tainted with allegations of nearly R66m in kickbacks, paid by Neotel with the help of a letterbox company called Homix, which was linked to the Gupta family.

In 2016, Pita signed off on invoices authorising Transnet to pay R74m to Trillian Capital Partners for work done between February 2016 and June 2016. 

Pita’s resignation comes as Minister of Public Enterprises Pravin Gordhan is seemingly engaged in a clean-up of state-owned enterprises.

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