Ex-Transnet Group Capital CEO Msagala granted bail after being charged for corruption, theft

JOHANNESBURG - Former Transnet Group Capital CEO Herbert Msagala is out on R60,000 bail following his first appearance on charges of fraud, corruption, theft, and money laundering.

Msagala appeared at the Johannesburg Specialised Commercial Crime Court on Monday.

He's accused of receiving kickbacks worth over R26 million during his time in office.

Msagala is linked to the awarding of five dodgy contracts, valued at more than R160 million, to a company called IGS Consulting Engineering in 2015.

IGS was contracted for the maintenance and upgrading of the high-pressure pipe infrastructure that transported different fuel products from Durban to Gauteng under its project called the New Multi-Product Pipeline.

The National Prosecuting Authority (NPA)'s Phindi Mjonondwane said two other suspects were expected to be charged in the case.

"The case was postponed to 19 November for the Hawks to trace the outstanding suspects."