Following the abrupt resignation of Transnet Group CEO Portia Derby after months of pressure, other top executives of the state-owned rail and ports company are said to be on the verge of leaving.
Transnet is selling the iconic Carlton Centre, but will remain in the Johannesburg CBD, in line with its ambitions to become a leading property developer and boost group cash flow.
The fixer behind the PIC's contentious investment in 1 000ha of empty land on the N12 highway is fighting tooth and nail for a R180m "transaction advisory fee" he claims he is owed.
Extracting money from the Public Investment Corporation for dubious projects seems to have been easy if you were willing to shell out massive ‘fees’ to connected gatekeepers. That’s the implication of the latest investment debacle amaBhungane has uncovered involving the troubled state.