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

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.

Also, there are nearly 40 other ongoing investigations into alleged corruption involving different state-run businesses and national and provincial government departments worth billions more dollars. Even more investigations have been finalized by the SIU ahead of being made public. Investigators believe $540 million was lost to corruption at passenger rail company PRASA, some of it through a scheme where money was allegedly stolen through payments made to more than 1,200 “ghost employees” who didn't exist, the SIU's report said. One contract under investigation worth more than $300 million dates back to the 2010 soccer World Cup that South Africa hosted.

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South Africa is investigating alleged corruption of more than $7-billion at top state-owned companiesAdministration of former president Jacob Zuma faced allegations of widespread corruption over lucrative government contracts before stepping down in 2018
Bron: globeandmail - 🏆 5. / 92 Lees verder »