The fight against State Capture, looting of resources and corruption is gaining momentum – Ramaphosa

CYRIL RAMAPHOSA

THE announcement by the National Prosecuting Authority (NPA) 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.

The NPA Investigating Directorate finalised a landmark agreement with Swiss engineering company ABB Ltd to pay R2.5 billion in punitive reparations to South Africa. This in connection with bribes allegedly paid to obtain contracts with Eskom between 2014 and 2017.

This amount, which will be paid into the Criminal Asset Recovery Account, is in addition to R1.6 billion that ABB paid Eskom in 2020 to settle an investigation into allegedly criminal conduct involving contracts at the Kusile power station. Importantly, the current settlement does not indemnify the company or its staff from prosecution.

For the last five years, we have been working hard to end the looting