SIU Freezes R76.5 Million in Assets from Eskom Corruption Probe

Some of the luxury properties that have been preserved by the SIU based on the reasonable suspicion that its owner, businessman Siyabonga Nkosi, bought them using money looted from Kusile and Majuba Power Stations – both owned by Eskom.

Nkosi allegedly inflated prices and dubiously scored R76 million during the uprallelled looting spree between 2021 and 2023.

It has been alleged that an item that had a market value of R450 was sold to Eskom for R50 000.

Furthermore, it has been alleged that Eskom officials further split purchase orders to keep transactions below the R1 million threshold, abusing the informal tendering system and bypassing formal procurement processes.

False part numbers were uploaded to Eskom’s systems to ensure only colluding vendors could bid, inflating costs for equipment that was never needed, and remains unused in stock years later.

SIU FREEZES R76.5 MILLION IN 17 PROPERTIES AND 7 LUXURY CARS IN ESKOM-RELATED ALLEGED CORRUPTION.
SIU has secured a preservation order from the Special Tribunal, freezing 17 immovable properties worth R76.5 million and 7 luxury cars linked to businessman Siyabonga Moses Goodwill… pic.twitter.com/N9nlvBf2y0

— Sanele Nkosi (@sanelenkosiii) April 21, 2026

#SIUWorkingForYou|SIU FREEZES R76.5 MILLION IN 17 PROPERTIES AND 7 LUXURY CARS IN ESKOM-RELATED ALLEGED CORRUPTION
The Special Investigating Unit (SIU) has secured a preservation order from the Special Tribunal, freezing 17 immovable properties worth R76.5 million and 7 luxury… pic.twitter.com/wHt14KGroV

— Special Investigating Unit (SIU) (@RSASIU) April 21, 2026