Yasmin Bilal
The Special Investigating Unit (SIU) has obtained a Special Tribunal order freezing two properties linked to former Passenger Rail Agency of South Africa (PRASA) Group CEO Tshepo Lucky Montana.
The move forms part of an investigation into a R5.6 billion rail security tender.
The order bars Montana from selling, transferring, leasing or otherwise dealing with the properties until the civil proceedings have been concluded.
The properties include a Hurlingham home in Johannesburg, bought for R13.5 million, and a Waterkloof property in Pretoria, purchased for R2.25 million.
The Tribunal also ordered the Registrar of Deeds to place caveats on the title deeds to prevent any unauthorised transactions.
According to the SIU, its investigation uncovered what it describes as a direct money trail linking the purchase of the properties to funds allegedly generated through PRASA’s Integrated Security Access Management System (ISAMS) contract awarded to Siyangena Technologies, a subsidiary of TMM Holdings.
The ISAMS project was introduced to improve security and access control at selected railway stations ahead of the 2010 FIFA World Cup. It included the installation of access gates, public address systems and electronic display boards.
Although the project began as a pilot because of budget constraints, the contract was expanded over time. By April 2016, the value of the contracts awarded to Siyangena had grown to more than R5.6 billion.
The SIU said its investigation found that Montana’s declared income could not explain the purchase of either property.
Investigators allege bank records traced the funds to payments made by companies within the TMM group and Precise Trade and Invest 02 (Pty) Ltd.
The director of Precise Trade and Invest also acted as the lawyer for the TMM group of companies.
The SIU said the Waterkloof property was bought in 2014 after Precise Trade and Invest allegedly received millions of rand from companies linked to the TMM group.
The company later transferred R2.25 million to the attorneys handling the property transfer.
The investigation also linked the Hurlingham property to a series of transactions involving Precise Trade and Invest, TMM Holdings and Botswana-registered company Midtownbrace (Pty) Ltd. The property was registered in Montana’s name in July 2015 after R13.5 million was paid towards its purchase.
The respondents have been ordered to appear before the Special Tribunal on 11 August 2026 to show why the interim preservation order should not be made final. The SIU has also been directed to institute the main civil proceedings within 30 days.
The investigation forms part of a wider SIU probe into alleged maladministration and corruption at PRASA between January 2010 and February 2024.
The SIU said the preservation order was an important step towards safeguarding State assets while civil recovery proceedings continue. It added that any evidence of criminal conduct uncovered during the investigation would be referred to the National Prosecuting Authority for further consideration.