SIU tells Parliament it saved govt R8bn
The Special Investigating Unit (SIU) told MPs on Tuesday that its fight against corruption saved the government R8 billion during the 2023/24 financial year.
The unit briefed Parliament on Tuesday.
It said this was due to investigations, speedy litigation, and recovery processes.
In addition, the SIU also recovered funds in cash amounting to R2.28 billion.
"In addition to these recoveries, the SIU prevented a further R2.32 billion in potential state losses and secured cash to be recovered from the acknowledgement of debt and admission of liability agreements to the value of R1.6 billion,” said SIU spokesperson Kaizer Kganyago.
"In our pursuit of rectifying irregular administrative decisions, the SIU successfully set aside contracts worth over R2.13 billion through the Special Tribunal and the High Court of South Africa.”
Most of the recoveries were made from entities such as Transnet, Eskom and the National Student Financial Aid Scheme.
The Transnet recoveries amounted to over R710 million, Eskom R500 million, and the NSFAS investigation led to a recovery of more than R191 million.
The SIU also prevented losses of R1.98 billion in the medico-legal investigation, which deals with lawsuits against the Department of Health.
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