Two former Transnet Property executives have agreed to repay millions of rands to Transnet after a three-year investigation by the Special Investigating Unit (SIU). Zakhele Thabo Lebelo and Phathutshedzo Mashamba were found guilty of receiving kickbacks related to tender deals.
As part of the settlement agreement, Lebelo and Mashamba will forfeit their pension payouts and have multiple luxury properties sold to settle their debts. Lebelo received three luxury apartments in Rosebank worth between R3.8 million and R4.2 million, while Mashamba received around R2 million to purchase a property in Diepsloot.
The SIU investigation found that Lebelo and Mashamba received bribes and secret profits from companies that did business with Transnet. The companies, Superfecta Trading and BBDM Bros Advertising Agency, received millions of rands from Transnet during Lebelo’s tenure as CEO of the property division.
The settlement agreement requires Lebelo and Mashamba to repay their debts to Transnet using their pension payouts and the sale of their luxury properties. The Special Tribunal has also ordered Superfecta to pay R3 million back to Transnet.