Ramaphosa Sets Up Special Tribunal for State Probes

(Bloomberg) -- South African President Cyril Ramaphosa said a special tribunal has been established to speed up cases from the state’s Special Investigating Unit.

“Fast tracking these matters through the Special Tribunal will enable the SIU to recover monies and or assets lost by state institutions through irregular and corrupt means” and would ensure that those who are responsible are held accountable, the office of the presidency said in a statement on Sunday.

State-owned power producer Eskom Holdings SOC Ltd. is one of the entities that the SIU is investigating. Its ongoing probe into Eskom shows 11 contractors involved in the construction of three new power plants may have siphoned off 139 billion rand ($9.9 billion), the Johannesburg-based Sunday Times reported, citing SIU spokeswoman Nazreen Pandor.

To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

To contact the editors responsible for this story: Alastair Reed at areed12@bloomberg.net, Sophie Mongalvy

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