SIU Making Substantial Strides in Battling State Corruption

The Special Investigating Unit (SIU) has displayed immense strides in the battle against state corruption, exhibiting a strong financial standing with nearly R750 million in its account. Amid a trend of poor fiscal reporting to Parliament, the unit appears to be a ray of light, negating close to R2 billion worth of losses to the state.

Over the past six years, the SIU has overcome a regression from clean audits. Furthermore, in the year under review, its rigorous efforts have facilitated the recovery of nearly R400 million from dodgy transactions.

A noteworthy achievement is the R300 million worth of suspicious deals it had nullified during the 2022/23 financial year. SIU's head, Andy Mothibi, highlighted that contracts amounting to R2.4 billion, deemed irregular, are presently before the courts. "We are continuing to see an overshoot in terms of performance," affirmed Mothibi, attributing this primarily to the skilled professionals and dedicated staff at SIU.

Despite the commendable efforts, a qualified audit finding on an accounting detail presents a setback. The unit has understated its revenue by close to R13 million in regards to the recovery of legal fees. Mothibi, however, is firm on not risking late financial statements in an attempt to rectify the mistake.

In light of SIU's numerous investigations, 32 companies have been identified for blacklisting during this financial year. Additionally, some of these companies' directors could also be facing legal consequences.