President Jacob Zuma says a policy overhaul is essential because black South Africans directly own just 10% of the top 100 companies on the Johannesburg Stock Exchange.
The Special Investigating Unit, the state’s anti-graft agency, is owed more than R300-million by state institutions and President Jacob Zuma has called on them to pay back the money.
This follows the president’s first meeting with SIU head Advocate Andy Mothibi on Friday.
Zuma has called on government departments and entities to pay their SIU debts without delay to enable the institution to function optimally.
During their meeting, Mothibi told Zuma that the SIU was owed R388 966 514 by state institutions.
“The President said it was unacceptable that the institutions would withhold much-needed funding to the SIU and that they should pay up without delay. The SIU is currently undertaking many investigations based on proclamations signed by the President,” the presidency said on Saturday.
Almost 70 SIU proclamations were signed between 2010 and 2016, according to the presidency, with 10 proclamations signed in the 2016/2017 financial alone, to investigate a number of allegations of corruption.
“The actual value of the money and/or assets that has been recovered for the State and/or relevant third parties by the SIU is R22.5-million to date in 2016/17. Since 2011/12, the total value of money that has been recovered for the State to date is R279.5-million.” – News24