South Africa's USD 7 Billion Corruption Probe: A Deep Dive into State-Owned Companies’ Graft

South Africa is actively investigating over USD 7 billion in alleged corruption within its state-owned companies. These inquiries, some ongoing since 2018, encompass businesses like Eskom and PRASA. The country’s anti-graft unit has identified widespread misconduct, significantly impacting its economy and leading to numerous legal probes and political consequences.

South Africa is currently investigating alleged corruption totaling more than USD 7 billion at several of its top state-owned companies, as reported by the national anti-graft unit on Tuesday.

These investigations, some of which have been ongoing since 2018, were detailed by the Special Investigative Unit (SIU) in a report to a parliamentary committee. The report provided an update on the status of probes involving six state-owned firms, including Transnet, Denel, Eskom, and PRASA. Notably, Transnet alone has around 60 suspicious contracts and hundreds of conflict-of-interest cases under scrutiny, amounting to nearly $4 billion.

Apart from these, about 40 other ongoing investigations are looking into similar allegations across various state entities and government departments. The SIU's findings highlight the pervasive corruption that plagued South Africa during former President Jacob Zuma's administration, which had profound adverse effects on the nation's economy, including significant disruptions to its electricity supply at Eskom.

(With inputs from agencies.)