South Africa investigates over $7 billion in corruption at state-owned companies, including Transnet, Denel, Eskom, and PRASA.

South Africa investigates over $7 billion in corruption at state-owned companies, including Transnet, Denel, Eskom, and PRASA. Over 60 suspicious contracts and hundreds of conflict-of-interest cases are being investigated at Transnet alone, amounting to nearly $4 billion. The Special Investigative Unit (SIU) has been probing these cases since 2018 and highlights the scale of corruption over the past 15 years, including during former President Jacob Zuma's administration. The corruption has had severe economic consequences, such as significant disruptions to electricity supply at Eskom. President Cyril Ramaphosa has pledged to clean up the government and bring those responsible for corruption to justice, though anti-corruption experts doubt much of the lost funds will be recovered.

August 27, 2024
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