State Capture Inquiry hears R800bn for goods and services is missing

State Capture Inquiry hears R800bn for goods and services is missing

As the State Capture Inquiry continues, more details are revealed about the irregularities that went on behind closed governmental doors.

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It has come to light that the South African treasury were unable to track R800 billion spent on goods and services yearly.

South Africans expected to hear about the failure of the government but this goes beyond expectations. R800 billion is a large amount of money to lose track off.

Chief Procurement Officer of National Treasury Willie Mathebula testified on Tuesday as the first witness before the commission of inquiry.

His testimony brought to light the Treasury's inability to stay updated on the government's expenditure.

According to Mathebula, the vastness of the projects the government is involved in made it difficult to know if the funds went where it was supposed to. He said there were different processes involved in tender bidding, adding to the complexity.

When asked whether there were policies that hold people that abuse public funds accountable, Mathebula replied that it's a difficult question.

The South African reports Mathebula admitted that Treasury's job has been difficult since 2013.

He claims Treasury is fighting a war to ensure the system isn't abused. Most of the investigations were surrounding Denel, Transnet and Telkom.

READ ALSO: Juju claims R56 billion energy deal rushed through to benefit Ramaphosa’s family

Mathebula confessed that there could be loopholes in the regulatory framework of the Treasury.

Another big problem that Mathebula addressed is the lack of control Treasury has over the fluctuation of costs related to tenders. He said tenders are exposed to corruption and the costs would go from for, example, R4 million to a sudden R200 million.

Mathebula was only the first witness before the commission of inquiry, who knows what else will be revealed as the State Capture Inquiry progresses?

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Source: Briefly.co.za

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