Public Enterprises welcomes Transnet exec’s asset seizure

The Department of Public Enterprises (DPE) has welcomed the Special Investigative Unit’s work at Transnet, which has led to the seizure of assets belonging to one of the company’s executives.

The department said the order – made by the Special Tribunal established under the Special Investigating Units and Tribunals Act – was for the attachment of assets and bank accounts linked to former Transnet Capital Projects executive, Herbert Msagala, and his relatives.

The attached assets include several luxury vehicles, property, and two farms.

“The department supports the steps taken by the SIU as an important part of our efforts to clean up State-owned enterprises (SOEs), so they can be re-engineered to serve the country’s economic and strategic goals,” the department said in a statement.

The news of the seizure comes hot on the heels of steps taken by Eskom and the SIU to recoup funds lost to State Capture corruption.

A set of summons was issued two weeks ago in the North Gauteng High Court to recover funds from former Eskom executives, former board members, members of the Gupta family and their associates.

“The DPE and the SOEs reporting to it will continue to work closely with the SIU to ensure that all other instances of corruption, which have been uncovered at the parastatals, are pursued,” the department said. –

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