The Special Investigating Unit (SIU) has obtained a court order to freeze 17 properties valued at approximately R76.5 million, along with seven luxury vehicles, linked to businessman Siyabonga Nkosi as part of an ongoing corruption investigation involving Eskom.
Alleged Irregular Contracts at Eskom
According to the SIU, the investigation focuses on contracts awarded between 2021 and 2023 at Eskom power stations, including Kusile and Matla.
It is alleged that Eskom officials approved inflated pricing arrangements, where goods and services that should have cost between R180 and R450 were instead billed at around R50,000 per item.
Losses Exceeding R73 Million
The SIU says these irregular arrangements allegedly resulted in losses exceeding R73.6 million to the state-owned power utility.
Investigators further allege that procurement processes were deliberately manipulated, including:
- Splitting orders to avoid tender thresholds
- Use of falsified or misleading reference numbers
- Circumvention of supply chain management controls
Luxury Assets Seized
The frozen assets reportedly include:
- Multiple residential properties across Gauteng, KwaZulu-Natal, and Mpumalanga
- Seven luxury vehicles linked to the accused network
Case Headed to Prosecutors
The SIU has confirmed that the matter will be referred to the National Prosecuting Authority (NPA) for possible criminal prosecution.
Investigations are ongoing, with authorities expected to expand the probe as more evidence is reviewed.
