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Former Transnet CFO Anoj Singh defended the decision to appoint Regiments Capital as a transaction advisor.
Singh said there was no capacity in Transnet s treasury to handle this transaction and funding facility for the locomotive, which needed to raise R50 billion.
He denied instructing Transnet treasury staff into expediting the approval of Regiments-linked transaction advisory contracts.
Former Transnet chief financial officer Anoj Singh again defended the decision to appoint Regiments Capital as a transaction advisor on major transactions Transnet undertook while he was at the state-owned freight and logistics company.
Singh returned to the Judicial Commission of Inquiry into State Capture chaired by Deputy Chief Justice Raymond Zondo on Friday morning after he was grilled about the process behind Regiments Capital taking on the role of a transaction advisor for a loan facility at Transnet.
Ina Opperman Nedbank has stated that its internal and external reviews confirmed that the bank at no time acted unlawfully in its dealings with Regiments or its clients.
Regiments allegedly promoted the Nedbank products to its public sector clients, such as the City of Johannesburg, City of Tshwane and Acsa while it was supposed to offer impartial advice.
The ‘commission’ Regiments received was part of the Nedbank charges and Regiments clients often did not know about it, amaBhungane wrote.
According to amaBhungane, this all started in 2009 when Nedbank and Regiments signed a ‘highly confidential’ agreement called Introduction of Derivative Transactions, that indicated that Nedbank would pay Regiments a fee for bringing it new business and that Regiments would disclose the fee to its clients. The report says Regiments did not disclose this.
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Alexander O. Onukwue
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The experiments started at a citrus farm in Cape Town where James Paterson was born. By 2014, that passion became Aerobotics – a startup that has now raised $17m from investors to help farmers grow fruits and trees using images from satellites and drones.
Aerobotics is a company of engineers, agronomists, and data scientists. Its business is to devise hardware and software technology for precision agriculture anywhere in the world.
Their tools are calibrated to generate insights for tree and fruit farmers to manage their resources optimally. Farmers are able to track trees, detect those that are unhealthy, and act decisively where needed. Yield is maximised and disease kept at bay.
South African startup Aerobotics raises $17M to scale its AI-for-agriculture platform
As the global agricultural industry stretches to meet expected population growth and food demand, and food security becomes more of a pressing issue with global warming, a startup out of South Africa is using artificial intelligence to help farmers manage their farms, trees and fruits.
Aerobotics, a South African startup that provides intelligent tools to the world’s agriculture industry, has raised $17 million in an oversubscribed Series B round.
Founded in 2014 by James Paterson and Benji Meltzer, Aerobotics is currently focused on building tools for fruit and tree farmers. Using artificial intelligence, drones and other robotics, its technology helps track and assess the health of these crops, including identifying when trees are sick, tracking pests and diseases, and analytics for better yield management.