Siyabonga Goodwill Nkosi, service provider of Eskom. (Photo: sanews.gov.za)
A businessman’s properties and seven luxury cars worth R76.5 million have been frozen in connection with alleged Eskom-related corruption.
Eskom officials signed off on procurement processes in which electrical equipment whose market price is between R180 and R450 is sold to Eskom at R50 000 by a contractor. As a result, Eskom suffered a financial loss of more than R73 million.
The Special Investigation Unit (SUE) obtained a preservation order through the special tribunal for the properties and seven luxury cars linked to businessman Siyabonga Goodwill Nkosi and his network of trusts. The preservation order authorizes the SOE to approach the special tribunal within 60 days to review and set aside contracts.
The order prevents these assets from being sold, transferred or hidden while the investigative unit seeks to set aside irregular contracts and recover public funds. The order was issued by Judge Bernard Ngoepe.
Gauteng properties of Siyabonga Goodwill Nkosi that have been frozen. (Photo: X/ SIU)
Selby Makgotho, spokesperson for the SOE, says that between 2021 and 2023, Eskom officials turned procurement processes at the Kusile and Mala power stations into a jackpot. “Between 2021 and 2023, officials approved inflated and irregular purchase orders for electrical equipment that is supposed to keep power plants operational.”
Eskom officials also split purchase orders to keep transactions below the R1 million threshold and abuse the informal tender system and bypass official procurement processes. The SOE says false parts numbers were loaded onto Eskom’s systems to ensure that only suppliers who conspired could tender for equipment that was never needed and years later still wasn’t used.
Siyabonga Nkosi and his wife, Instagram influencer Leleti Nkosi. (Photo: X)
Nkosi is connected in his personal capacity with the Nkosi Royal Trust and as a trustee with this trust, as well as the Sibongukukhanya Trust and the Siyabonga Kankosi Trust. These trusts became channels for the money laundering of Eskom’s acquisition money in luxury residential areas, estates and land in Gauteng, KwaZulu-Natal and Mpumalanga. Luxury cars such as Lamborghini, Porsche Cayenne and Porsche Canamera were purchased.
In accordance with the Special Investigation Units and Special Tribunals Act, the unit will refer any evidence of criminal conduct to the National Prosecuting Authority for further action.
The seven luxury cars. (Photo: X)