South Africa is investigating alleged $7B corruption at state-owned companies

FILE - South African President Cyril Ramaphosa appears on behalf of the ruling African National Congress party at the Zondo Commission of Inquiry into state corruption in Johannesburg, South Africa, April 29, 2021. has active investigations into alleged corruption totaling more than $7 billion at some of its top state-owned companies, according to a report published Tuesday by the national anti-graft unit.

Those investigations involve six state-owned businesses: 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. Around 60 suspicious contracts and hundreds of cases of conflict of interest and other alleged corruption worth nearly $4 billion of public money are under investigation at Transnet alone, according to the report.

There were allegations of widespread corruption over lucrative government contracts during the administration of former President Jacob Zuma, who led Africa's most advanced economy for nine years before stepping down in 2018 because of the allegations.into high-level corruption during that era implicated numerous government officials and executives at state-run businesses in taking kickbacks and bribes from businessmen in return for government contracts or favors.

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South Africa is investigating alleged corruption of more than $7B at top state-owned companiesSouth Africa has active investigations into alleged corruption totaling more than $7 billion at some of its top state-owned companies. The details are contained in a report submitted to a parliamentary committee Tuesday by the national anti-graft unit.
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