LISTEN: Makwetu: Some of R500bn stimulus package still with Treasury

Makwetu briefed the Standing Committee on Public Accounts (Scopa) on the probe into the looting of the stimulus package on Friday.

 

"What our report is currently revealing is that the amounts that have exchanged hands, in respect of the areas were the allocations have been made, are nowhere near the full amount of the budget that was put aside, in terms of the R500 billion," said Makwetu.

 

President Cyril Ramaphosa announced in July that the Special Investigating Unit (SIU) had been roped in to investigate corruption in all procurement involving the funds in all spheres of government.

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SIU freezes accounts of 40 companies linked to PPE corruption

The companies are all linked to the irregular awarding of tenders for personal protective equipment (PPE). Judge Billy Mothle granted an order on Thursday to freeze accounts worth some R38.7 million that is due to be recovered. The order interdicts the Gauteng Department of Health from making any further payments to the 40 companies, including Ledla Structural Development and Royal Bhaca Projects.

Makwetu’s office is also part of the investigation.

 

"As far as the numbers are concerned, having integrated the financial systems, it is also clear that some of these money has not left the corridors of the National Treasury to start with. So nobody is going to steal it unless National Treasury gives it to somebody," Makwetu told MPs.

 

In the same month, the International Monetary Fund (IMF) loaned South Africa R70 billion to help the country fight the coronavirus pandemic.

Listen to Makwetu below: