President Cyril Ramaphosa said that the settlement between Swiss tech firm ABB Ltd and the NPA was a huge development and a result of the hard work to end the looting of resources meant for the benefit of South Africa’s people.
The announcement by the National Prosecuting Authority last week that it had reached a settlement with an international company implicated in corruption at Eskom is a huge development in our effort to hold those responsible for state capture to account.
For the last five years, we have been working hard to end the looting of resources meant for the benefit of South Africa’s people, to prosecute those responsible and recover stolen funds.We first had to rebuild state institutions that had been deliberately weakened, emptied of expertise and rendered incapable of preventing capture by criminal elements. We had to strengthen law enforcement institutions and shield them from outside interference.
In the last few months, several cases have been brought to court, with former executives of state-owned enterprises like Eskom and Transnet charged alongside business people for allegedly colluding to steal public funds. The Special Investigating Unit continues with its investigations into corruption and mismanagement at state institutions and SOEs, with its Special Tribunal empowered to recover stolen funds.
Many of those involved in state capture and their enablers in the private sector saw nothing wrong with diverting public funds to private pockets. At the height of the state capture era, unscrupulous politicians repurposed state institutions for private enrichment and to cover their tracks.
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