Treasury probes contracts worth R8.4 billion

Wednesday, February 27, 2013

Cape Town – The National Treasury is investigating 76 business entities with contracts worth R8.4 billion believed to have infringed procurement rules, Finance Minister Pravin Gordhan said.

Delivering the National Budget speech in Parliament on Wednesday, Gordhan said the value of these contracts was estimated at over R10 billion. So far, 216 cases have been finalised, resulting in assessments of more than R480 million being raised.

Gordhan said the process for setting up the Chief Procurement Officer, as announced in 2012 had "begun in earnest”.

“I shall soon announce the name of the Chief Procurement Officer. A project team seconded from state agencies and the private sector has identified four main streams of work, involving immediate remedial actions," he said. –