By: Kobina Baidoo
South Africa has initiated active investigations following reports of corruption within state firm operations, reportedly involving more than $7 billion
The report published, late Tuesday, by the national anti graft unit, reveals that some of the country’s top state-owned companies, have been involved in the siphoning of state proceeds since 2018.
A subsequent report issued by the Special Investigative Unit (SIU) on Wednesday, captures six state- owned companies that are allegedly involved in these acts of corruption. The report was purposely issued to give a parliamentary committee updates on the status of the probes.
Reports indicate that the six state-owned businesses cut across various sectors of the country including ports and rail company Transnet, arms company Denel, power utility Eskom, the National Lotteries Commission, national airline South African Airways and passenger rail company PRASA.
South African, President Cyril Ramaphosa has pledged to clean up his government and bring those responsible to justice, but anti-corruption experts have said it’s unlikely that much of the money will be recovered.