Cape Town: R11 billion in assets linked to the State Capture Commission has been recovered as the government continues its efforts to implement the President's response to the commission's recommendations. This marks a significant increase from the R2.9 billion reported in October 2022, with the figure projected to reach R11 billion by March 2025.
According to South African Government News Agency, Minister in The Presidency, Khumbudzo Ntshavheni, provided this update during a media briefing in Cape Town. The briefing followed a Cabinet meeting held the previous day, where substantial progress on the State Capture Commission's recommendations was discussed. The Minister highlighted the enactment of eight new laws targeting corruption, procurement, intelligence services, and corporate accountability as part of these reforms.
The efforts in criminal investigations and prosecutions have resulted in guilty verdicts in four state capture commission cases. Additionally, eleven other cases involving 51 individuals and 27 companies have been scheduled for court proceedings. The former Department of Public Enterprises has referred 71 former State-Owned Enterprise directors to the Companies and Intellectual Property Commission (CIPC) for delinquency proceedings, leading to nine active court cases.
The CIPC has completed reviews for ten private sector entities implicated in the State Capture Report, with six investigations still ongoing and eight new Special Investigating Unit referrals under assessment. Meanwhile, the National Treasury has imposed a ten-year ban on Bain and Co from conducting business with the state, a decision that Bain is currently challenging in court.
Reforms to prevent future state capture are in progress, with some already implemented. These include the establishment of the Investigating Directorate Against Corruption, which began operations on 19 August 2024, and the approval of the National Framework towards the Implementation of Professionalisation of the Public Sector by Cabinet in October 2022. The National Anti-corruption Advisory Council has completed research into institutional reform recommendations from the State Capture Commission.
