President Cyril Ramaphosa has in terms of the Special Investigating Units (SIU) and Special Tribunal Acts 74 of 1996, established a Special Tribunal to fast track finalisations of investigations of monies and assets that were looted from state institutions through corruption.
This special tribunal will fast-track matters that the SIU refers for civil litigation following the conclusion of their investigations.
According to reports, the SIU is probing 11 contractors for allegedly looting R 139 billion during the building of Eskom’s Medupi, Kusile and Ingula power stations.
Ramaphosa had appointed Judge Gidfonia Mlindelwa Makhanya as the president of the tribunal for a period of three years.
Head of the School of Economics and Business Sciences at Wits Business School Professor Jannie Rossouw says, “The tribunal will not help to resolve the financial crisis but it will go a long way. It will show people who are busy with State Capture that the government is serious regarding this matter and overtime funds will be recovered that will help to restore financial stability.”
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