SIU freezes Eskom contractor’s R76.5m property empire and fleet of Lamborghinis
· Citizen
Corruption investigators have secured a court order freezing 17 properties and seven luxury cars linked to an Eskom service provider whose companies allegedly manipulated procurement to siphon nearly R74 million from the struggling state power utility.
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How SIU cracked open the Eskom procurement scheme
The Special Investigating Unit (SIU) has obtained a preservation order from the Special Tribunal, freezing assets linked to businessman Siyabonga Moses Goodwill Nkosi and a network of family trusts.
The order, granted by Judge Bernard Ngoepe, covers 17 immovable properties valued at R76.5 million and seven luxury vehicles, and prevents any of these assets from being sold, transferred, or concealed while the investigation continues.
The SIU said its investigation, authorised under Proclamation R.80 of 2022, revealed how officials at Eskom’s Kusile and Matla power stations systematically abused procurement processes between 2021 and 2023.
According to the unit, officials approved inflated and irregular purchase orders for electrical relays, equipment critical to keeping power stations operational.
“Eskom officials at Kusile and Matla power stations turned procurement into a jackpot,” the SIU said.
The unit described the scheme in which relays were invoiced at R50 000 each, despite a market price of between R180 and R450 per unit.
The mechanics of the alleged fraud
The SIU explained that officials deliberately split purchase orders to keep individual transactions below the R1 million threshold, allowing them to exploit the informal tendering system and sidestep formal procurement controls entirely.
This structural manipulation, investigators said, was not accidental and that it was engineered.
To further entrench the scheme, false part numbers were reportedly uploaded into Eskom’s internal systems to ensure that only vendors colluding with officials could successfully bid for contracts.
The SIU noted that the equipment procured through this process was never actually needed and remains unused in storage years later.
“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,” the SIU said.
The manipulation, it added, resulted in a direct financial loss of R73 650 994.87 to Eskom.
Trusts, top suburbs and a garage full of luxury cars
Nkosi is implicated both in his personal capacity and as trustee of three entities: the Nkosi Royal Trust, the Sibongukukhanya Trust, and the Siyabonga Kankosi Trust.
The SIU said these trusts functioned as conduits through which Eskom procurement money was channelled into high-value assets across three provinces.
The preserved properties span prime locations in Gauteng, KwaZulu-Natal, and Mpumalanga.
In Gauteng, these include a penthouse at The Capital on the Park valued at R13.5 million, units at Carlswald Lofts, two properties at Serengeti Estate in Witfontein, a property at Helderwyk Estate, and a Parkhurst property.
In KwaZulu-Natal, the order covers properties at Molokai Estate, Grand View Private Estate in Zimbali, and two properties in Zimbali South, one valued at R12.7 million.
Seven farm portions in Mpumalanga, valued from R320 000 to R4.6 million, are also included.
The seven vehicles subject to the preservation order include a 2024 Chromite Black Cayenne Turbo GT Coupe, a 2022 Moonlight Blue Porsche Cayenne GTS, a 2019 Jet Black Metallic Panamera GTS, a 2020 Jet Black Macan S, a 2021 Porsche Crayon Cayenne GTS Coupe, a 2022 Graphite Capsule Lamborghini Urus, and a Lamborghini Pearl Capsule Urus.
SIU investigation into Eskom-related alleged corruption. Image: SIUWhat happens next
The SIU confirmed that the preservation order opens the door to further legal action.
The unit said it intends to approach the Special Tribunal to have the irregular contracts reviewed and set aside, and that it has 60 days from the date of the order to launch those proceedings.
“This preservation order motivates the SIU to move towards approaching the Special Tribunal to review and set aside these contracts,” the unit said.
In line with the Special Investigating Units and Special Tribunals Act 74 of 1996, the SIU said it will refer any evidence of criminal conduct to the National Prosecuting Authority for further action.
The unit added that it is also empowered to initiate civil proceedings in the high court or the Special Tribunal in its own name to recover financial losses suffered by the state, including funds paid for services that were never rendered.