The Special Investigating Unit (SIU) froze 17 immovable properties worth R76.5 million and 7 luxury cars linked to tycoon- Siyabonga Moses Goodwill Nkosi and his trusts.
This prevents these assets from being sold, transferred, or hidden while the SIU seeks to set aside irregular contracts and recover public funds.
This follows an investigation into Eskom officials since 2022.
Investigators found procurement irregularities at Kusile and Matla Power Stations between 2021 and 2023, where officials approved inflated and irregular purchase orders for relays (equipment meant to keep power stations running).
Nkosi’s companies allegedly delivered invoices of relays at R50,000 each, when the market price was between R180 and R450.
This manipulation, resulted in a direct financial loss of R73,650,994.87 to Eskom.
Eskom officials further split purchase orders to keep transactions below the R1 million threshold, abusing the informal tendering system and bypassing formal procurement processes.
Picture: SIU newsroom