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Irregular expenditure albatross weighs as heavily on Transnet as R8.4bn loss

State-owned freight logistics group Transnet reported a loss of R8.4-billion for the year to March 31, 2021, and also received an audit qualification for the period relating to its ongoing irregular-expenditure problem. The loss, which is the first to be reported by the group for more than a decade, was attributed largely to the lockdowns introduced by the South African government at the start of the Covid-19 pandemic, which severely knocked business activity.

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