Overview
- The Special Tribunal granted a preservation order by Judge Bernard Ngoepe that blocks the sale or transfer of 17 properties and seven vehicles tied to businessman Siyabonga Nkosi.
- Investigators say Eskom staff at the Kusile and Matla power stations rigged buying between 2021 and 2023 by splitting orders below R1 million to dodge formal tenders.
- The SIU reports that false part numbers limited bids to colluding vendors and pushed relay prices to about R50,000 despite market levels near R180 to R450.
- The probe pegs Eskom’s direct loss at R73,650,994.87 and tracks the money into assets held by three Nkosi family trusts across Gauteng, KwaZulu-Natal, and Mpumalanga.
- The SIU plans to file within 60 days to set aside the contracts, refer any crimes to the National Prosecuting Authority, and seek civil recovery to repay the state.