50k relay scam: SIU freezes R76.5m ‘soft life’ assets
While South Africans continue to endure crippling blackouts, a fresh corruption probe has exposed how a businessman allegedly turned Eskom’s procurement system into a private cash cow, siphoning millions through fraudulent contracts for electrical components.
The Special Investigating Unit (SIU) has secured a court order to freeze R76.5 million worth of luxury cars and upmarket properties belonging to Siyabonga Moses Goodwill Nkosi. The action follows an investigation into a brazen procurement racket at two of Eskom’s largest power stations, Kusile and Matla.
A Relay Priced Like a Small Car
Between 2021 and 2023, Eskom officials are suspected of colluding with suppliers to rig purchase orders for electrical relays, small but vital parts used to help stabilise the national grid. According to SIU evidence, the genuine market cost for these relays ranges from R180 to R450 each. Yet, by inventing fake part numbers and coordinating bids, the accused ensured Eskom paid R50,000 per unit.
“The officials approved contracts where relays were priced at R50,000—while the real value was between R180 and R450,” said SIU spokesperson Selby Makgotho. “Instead of providing reliable equipment, Nkosi’s companies simply delivered inflated invoices.” The total loss to Eskom has been calculated at over R73.6 million.
Investigators discovered that the ring exploited Eskom’s informal tender process by breaking down large orders into smaller chunks, each under R1 million, to avoid stricter oversight. Bogus part numbers were then entered into Eskom’s systems, ensuring that only the pre-selected vendors could win the bids.
A Frozen Portfolio of Wealth
The Special Tribunal, under Judge BM Ngoepe, has issued a preservation order targeting 17 properties across Gauteng, KwaZulu-Natal, and Mpumalanga. Among them is a R13.5 million penthouse at The Capital on the Park in Sandown, Johannesburg, and multiple homes within the exclusive Zimbali Estate on the KwaZulu-Natal north coast.
The order also froze seven high-end vehicles belonging to Nkosi, including:
- A 2024 Chromite Black Cayenne Turbo GT Coupe
- A 2022 Moonlight Blue Porsche Cayenne GTS
- A 2019 Jet Black Metallic Panamera GTS
- A Lamborghini Pearl Capsule Urus
SIU forensic teams traced how the stolen funds moved through a network of family-run trusts. Nkosi is implicated both personally and as a trustee of three entities: the Nkosi Royal Trust, the Sibongukukhanya Trust, and the Siyabonga Kankosi Trust. The SIU alleges these trusts were used as laundering vehicles to convert Eskom money into prime real estate and luxury vehicles.
Social Media Glimpses of a Lavish Life
The alleged fraud had been on public display through the Instagram account of Nkosi’s wife, influencer Leleti Nkosi. Her posts now largely deleted, showed the couple enjoying private jets, designer goods, and overseas holidays to France, Greece, the United States, Mauritius, and Egypt. The freezing order has brought that “soft life” to a sudden halt.
What Comes Next
The preservation order prevents Nkosi from selling, transferring, or hiding any of the seized assets while the SIU prepares to ask the Special Tribunal to set aside the suspicious contracts. The unit has 60 days to file its case.
Makgotho confirmed that any criminal evidence uncovered will be handed over to the National Prosecuting Authority (NPA) for possible prosecution.
Nkosi has not yet responded publicly to the allegations. The investigation, authorised under Proclamation R.80 of 2022 by President Cyril Ramaphosa, continues as the SIU pushes to recover public funds stolen from the embattled power utility.
