South Africa is currently investigating alleged corruption totaling over $7 billion at several top state-owned companies, as reported by the national anti-graft unit.
These investigations, some dating back to 2018, were detailed in a report by the Special Investigative Unit (SIU) presented to a parliamentary committee.
The probes focus on six state-owned entities: Transnet, Denel, Eskom, the National Lotteries Commission, South African Airways, and PRASA.
Transnet alone faces scrutiny over 60 suspicious contracts and cases of corruption involving nearly $4 billion of public funds, according to the report.
In addition, nearly 40 other investigations are ongoing, targeting different state-run businesses and government departments, with billions of dollars at stake.
Some investigations have been concluded by the SIU and are yet to be publicly disclosed.
The SIU’s findings highlight the scale of South Africa’s corruption issue over the past 15 years.
Allegations of widespread graft emerged during former President Jacob Zuma’s administration, impacting numerous officials and executives in the state sector.
The corruption crisis severely affected South Africa’s economy, including Eskom’s near-collapse due to mismanagement and graft.
Record blackouts occurred last year, and over 270 contracts worth $2.2 billion at Eskom are under investigation.
PRASA also faces scrutiny over a $540 million corruption scheme.
