Transnet appoints new CFO after its Gupta scandal

May 18, 2018

BUSINESS REPORT  / 17 MAY 2018, 12:35PM / SISEKO NJOBENI

 

JOHANNESBURG - Transnet has appointed Mohammed Mahomedy as interim chief financial officer to take over from Garry Pita who resigned last month amid a financial scandal involving the Guptas.

 

Transnet said yesterday that Mahomedy, a chartered accountant who has been with Transnet for 12 years, would be a member of the board and would report to group chief executive Siyabonga Gama.

Transnet said before his appointment, Mahomedy was a general manager for finance at Transnet Group Capital. He also set up and managed the Group Capital Integration Assurance portfolio and was part of the finance executive at Transnet Freight Rail, its biggest division, where he also acted as chief financial officer.

 

 

 

“Mahomedy will formulate and lead all aspects of the company's financial strategy, including overseeing the company's funding, capital investment programmes, managing procurement, financial risks and adherence to the highest standards of governance and internal controls,” the utility said.

 

Pita - a former ch