South Africa is Looking into Claims of $7 Billion in Corruption at State-Owned Businesses

South Africa is Looking into Claims of $7 Billion in Corruption at State-Owned Businesses

The national anti-graft arm of South Africa has released a report on Tuesday detailing ongoing investigations into allegations of corruption amounting to over $7 billion at many of the country’s leading state-owned enterprises.

Some of the investigations stretch back to 2018, and the Special Investigative Unit (SIU) listed each one in a report to a parliamentary committee providing an update on the investigations’ status.

The National Lotteries Commission, national airline South African Airways, power utility Eskom, ports and rail firm Transnet, national airline South African Airways, and passenger rail company PRASA are the six state-owned companies that are the subject of these investigations.

According to the article, Transnet alone is investigating almost 60 dubious contracts, hundreds of examples of conflict of interest, and other alleged malfeasance worth close to $4 billion of public funds.

In addition, there are around forty more ongoing investigations worth billions of dollars investigating allegations of corruption involving various state-run companies and federal, state, and local government agencies. The SIU has concluded even more investigations before they are made public.

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