Where is the Transnet loot and why hasn’t it been recovered? Given the government’s recently announced austerity measures targeting social spending, this question demands an urgent answer.
![Unaccountable–CRRC Unaccountable–CRRC](/sites/default/files/styles/var_desktop/public/2021-07/Unaccountable%E2%80%93CRRC.jpeg.jpg?itok=3Fw-iGqf)
Why have institutions such as Transnet thus far largely failed to fully recover funds looted during the State Capture era? The R16-billion price hike in a 2014 Transnet train deal was engineered to send kickbacks to Gupta-linked firms. While the Guptas aimed to get rich from corruption, special mention must be made of the Chinese state-owned Chinese Railway Rolling Stock Corporation (CRRC). Why has the world’s richest rolling stock company never been held to account for its South Africa profits?
South Africa had not seen a more devastating corruption-linked scandal, with a price tag as hefty as this, since the notoriously corrupt Arms Deal. The seven-year-old Transnet swindle exemplifies the need to hold state capturers accountable. Without recovery of funds, any accountability remains a smokescreen.
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