News / 22 April 2026 / Warren Hawkins

SIU freezes five Porsches, two Lamborghinis linked to Eskom corruption

The Special Investigating Unit (SIU) has frozen assets worth R76.5 million, which include luxury cars and properties linked to businessman Siyabonga Moses Goodwill Nkosi and his trusts.

The SIU secured a preservation order from the Special Tribunal, allowing it to freeze Nkosi’s seven luxury cars, which include five Porsches and two Lamborghinis, alongside 17 immovable properties.

The order was granted by Judge BM Ngoepe and prevents any of these assets from being sold, transferred, or hidden while the SIU seeks to set aside irregular contracts and recover public funds

“The SIU investigation, authorised under Proclamation R80 of 2022, uncovered how Eskom officials at Kusile and Matla Power Stations turned procurement into a jackpot,” the unit declared.

“Between 2021 and 2023, officials approved inflated and irregular purchase orders for relays, which are equipment meant to keep power stations running.”

The SIU explained that instead of delivering reliable service to Eskom, Nkosi’s companies merely delivered invoices.

Eskom officials signed off on contracts that priced relays at R50,000 each, when the market price of these ranged from R180 to R450.

“This manipulation resulted in a direct financial loss of R73,650,994.87 to Eskom,” the unit explained.

“Eskom officials further split purchase orders to keep transactions below the R1 million threshold, abusing the informal tendering system and bypassing formal procurement processes.”

Part numbers were falsified and then uploaded to Eskom’s system, ensuring that only colluding vendors could bid for contracts.

This inflated costs for equipment that was not needed in the first place, and remains unused as part of Eskom’s stock, years later.

Nkosi’s role in the alleged corruption

Nkosi is cited both in his personal capacity, as well as a trustee of three trusts – the Nkosi Royal Trust, Sibongukukhanya Trust, and the Siyabonga Kankosi Trust.

The SIU says that these entities became conduits for laundering Eskom’s procurement money into luxury assets.

These include properties in top suburbs, estates, and land in Gauteng, KwaZulu‑Natal, and Mpumalanga.

A garage of luxury cars, which includes two Lamborghini Urus SUVs, three Porsche Cayennes, a Porsche Panamera, and a Porsche Macan.

The SIU explains that the preservation order it obtained motivates the unit to move towards approaching the Special Tribunal to have contracts reviewed and set aside.

“The order allows for the SIU to launch proceedings within sixty days from the date of the order,” the SIU declared.

In line with the SIU’s and Special Tribunals Act 74 of 1996 (SIU Act), should the SIU find any evidence of criminal conduct during its investigation, it will be referred to the National Prosecuting Authority (NPA) for further action.

“The Special Investigating Unit is also authorised to initiate civil proceedings in the High Court or a Special Tribunal in its name to correct any wrongdoing uncovered during its investigation,” it said.

This includes the recovery of financial losses suffered by the state, including funds paid for services that were not rendered.