Corruption allegations have riddled state-owned enterprises and government projects with some international companies being fingered.
By the end of 2018, corruption in state-owned enterprises by individuals connected to government such as the controversial Gupta family had led to many enterprises such as Eskom, SAA, Transnet, DENEL and SABC facing serious financial problems. Speaking during a question-and-answer session at the summit, Ramaphosa said those behind the looting of taxpayers’ money would be brought to book.
“A lot of money was siphoned off the coffers of the state through corrupt means, and some of those were very sophisticated, and may I say that some of those included blue chip companies of great world reputations. It runs way beyond in my view, more than R500 billion. Some people have even suggested that it could be a R1 trillion rand,’ says Ramaphosa.
[Watch live] President Cyril Ramaphosa addresses opening session of 6th Financial Times Africa Summit
If u can notice that Mr president, why can't some 1 get jailed only few people's 4 example
True Mr President
more.Minimum R1.2 trillion 4rm state side alone.Outside state sector in people's family budgets it is much more e.g. family of 5 traveling on train monthlies in past=R1200 then state capture tenders+(Zim)Satawu strike &burnings. Now using taxis mostly=now R3200 so R2000 increase
Umongameli wethu President Ramaphosa uyazama kakhulu ukulungisa undonakele ndiyazi akuzobalula kodwa uyazama yena, nabo basebenza naye kumele bancedisane naye apho kungenzekanga kakuhle ekunga landelwanga umgomo ofanele abantu maba phendule,Ukuze sizo phila ubomi obungcono.
Not R500 Billion ?
Steinhoff, Tongaat, Samancor, EOH, Fidentia, KPMG, African Bank etc. This man is right, corruption costs us a lot!
Souh africa is a company not a country
I wish Nigeria was having a president like ramaphosa, the country would have gone far, Can we exchange Buhari with ramaphosa? Please help us
🤣🤣🤣🤣🤣
AHHHH
The cost is much more and still going on. The cANCer government will never curb corruption because the can't, they are terrorists and will allways be, it's a black thing. Could not even learn the basics of humanity from the whites, ignorance.
That is a lot
How much did it cost for the use of the African land in Africa for 150 years? That corruption activity is never addressed as yet.
ZSigwiji And have the main character pleading poverty
This is true reflection of what the President of the Republic of South Africa has said, he did not say under president Zuma corruption cost SA almost a R1- trillion
How much of it plus interest will be recovered or it won't be recovered until Jesus comes back
I'm sure we have passed the TrillionS mark already...
And Still u Lie to the world day after day. The world does not SLEEP THEY HEAR AND SEE IT ALL.
Take another guess, maybe 3T
wow! they must bring back our money...🤣🤣
Maloka_Tiisetso ...and he's like challengeAccepted 😂😂
Corruption is going to delete South Africans
It's worry some to learn about this at the africa summit in London, such statements reminds me of Afriforum in USA telling them of white genocide while us in the country did not knowing of such... He might be correct but why there and us as SAns not knowing about it? Shocker
Cyril Ramaphosa was there as leader of government business but did nothing to stop the rot
ANC led government
corruption is like Apartheid all this cause by people,but no1 gonna pay/punish for it
Have you forgotten you were second in command?hand yourself over to the nearest police station a.s.a.p!!!!!
Ai but he was there watching as a deputy of corruption 🤷so what?
He only sings about corruption when he is in london. He is right though, but must subtract 1 billion that was used to buy the conference.
R500bn was lost because of Maria Ramos
Did he mention that Maria Ramos was instrumental to that by rigging our Rand. 🤔
Say ANC corrupt politicians has cost SA R1 trillion why not be specific.sabcnews
A public holiday called Corruption Day won’t be a bad idea, These guys didn’t fight apartheid to be poor...they must have a day to celebrate
At least South Africa is costed R1-trillion, some families has been costed not just their fathers but breadwinners in Marikana.
He's also corrupt 🤷🏽♂️
And why is he telling us, to stress us even more without having proper solutions in place.
You enjoy the lingo but delivery dololo.