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SIU claws back billions for the State

SIU claws back billions for the State

The Special Investigating Unit (SIU) says it has saved the South African government approximately R8 billion during the last financial year through “effective investigations, speedy litigation and recovery processes”.

This, according to the SIU spokesperson Kaizer Kganyago, is a testament to its commitment to fighting the scourges of corruption, maladministration and malpractice.

Kganyago said the amount is inclusive of a record recovery of funds in actual cash amounting to R2.28 billion – the highest recovery in the corruption busting unit’s 27-year history. 

“In addition to these recoveries, the SIU prevented a further R2.32 billion in potential state losses and secured cash to be recovered from the acknowledgement of debt and admission of liability agreements to the value of R1.6 billion. 

“In our pursuit of rectifying irregular administrative decisions, the SIU successfully set aside contracts and administrative action worth over R2.13 billion through the Special Tribunal and the High Court of South Africa. This legal action ensures that public funds are recovered, not squandered, and redirected to serve their intended public purposes.

“The SIU continues to safeguard the public purse and ensure that state resources are protected and used for the benefit of all South Africans. We call on all South Africans to be involved in the fight against corruption,” Kganyago said.

In a statement, the unit said the bulk of the recoveries come from investigations into Transnet, Eskom and the National Student Financial Aid Scheme (NSFAS).

“The Transnet recoveries amounted to R710 104 826.03, R500 000 000 from Eskom, and the NSFAS investigation totalled R191 027 281.50 by the end of the 2023/24 financial year.

“In terms of matters, contract and/or administrative decisions and/or actions set aside or deemed invalid, contracts emanating from the Eskom investigation contributed the most, with the contract value of R1 206 984 667.56,” the SIU said.

Successes in the medico-legal investigation also account for some R1.98 billion of prevented losses. – SAnews.gov.za
 

NeoB
Tue, 10/15/2024 – 12:06

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Tuesday, October 15, 2024

The Special Investigating Unit (SIU) says it has saved the South African government approximately R8 billion during the last financial year through “effective investigations, speedy litigation and recovery processes”.

This, according to the SIU spokesperson Kaizer Kganyago, is a testament to its commitment to fighting the scourges of corruption, maladministration and malpractice.

Kganyago said the amount is inclusive of a record recovery of funds in actual cash amounting to R2.28 billion – the highest recovery in the corruption busting unit’s 27-year history. 

“In addition to these recoveries, the SIU prevented a further R2.32 billion in potential state losses and secured cash to be recovered from the acknowledgement of debt and admission of liability agreements to the value of R1.6 billion. 

“In our pursuit of rectifying irregular administrative decisions, the SIU successfully set aside contracts and administrative action worth over R2.13 billion through the Special Tribunal and the High Court of South Africa. This legal action ensures that public funds are recovered, not squandered, and redirected to serve their intended public purposes.

“The SIU continues to safeguard the public purse and ensure that state resources are protected and used for the benefit of all South Africans. We call on all South Africans to be involved in the fight against corruption,” Kganyago said.

In a statement, the unit said the bulk of the recoveries come from investigations into Transnet, Eskom and the National Student Financial Aid Scheme (NSFAS).

“The Transnet recoveries amounted to R710 104 826.03, R500 000 000 from Eskom, and the NSFAS investigation totalled R191 027 281.50 by the end of the 2023/24 financial year.

“In terms of matters, contract and/or administrative decisions and/or actions set aside or deemed invalid, contracts emanating from the Eskom investigation contributed the most, with the contract value of R1 206 984 667.56,” the SIU said.

Successes in the medico-legal investigation also account for some R1.98 billion of prevented losses. – SAnews.gov.za
 

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