Former Transnet CFO Anoj Singh testifying at the Zondo Commission on Friday. Photo by Gallo Images/Papi Morake.
Anoj Singh said he did not put anyone under pressure to approve or accept a lower hurdle rate for Transnet s locomotive deal.
A chartered accountant body said Singh changed the hurdle rate for the locomotive deal from 18.56% to a lower rate of 15.2%.
The institute said Singh did this to hide the fact that the project was not seeing a profit from the Transnet board.
Former Transnet chief financial officer Anoj Singh told the State Capture Inquiry that he did not fiddle with the minimum rate of return for locomotives at Transnet to hide from executives that a project was no longer profitable.