Transnet has managed to recover R1.6 billion of R2.1 billion lost to corruption under the State Capture presidency of disgraced former ANC leader Jacob Zuma, Public Enterprises minister Pravin Gordhan has told Parliament.
Responding to a written set of questions about what is happening about prosecution into the corruption, theft and bribery that left three key state-owned enterprises gutted and on the brink of collapse, Gordhan said the logistics utility had absorbed the brunt of State Capture interference but had made a significant recovery.
Implicated auditing firm McKinsey alone repaid R870 million to Transnet.
He said Eskom had suffered losses of R203 million and South African Airways an estimated R23 million.
The R2.1 billion that Transnet lost might not be the last tally of public funds fleeced from the parastatal, said Gordhan.
This could only be determined once all criminal investigative procedures had been concluded, the minister said.
As to the actual progress of prosecution of those individuals involved in State Capture, mostly linked to the Gupta brothers, whom the current government has failed to repatriate to South Africa as fugitives of justice, Gordhan said there was an ongoing litigation strategy to recover funds lost due to administrative corruption when Zuma was president.
Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free. Subscribe to receive print copies of Freight News Features to your door.
