Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH | Fin24
  • Shrinking GDP

    Business Unity SA says another recession may be on the horizon after the economy again contracted.

  • Solly Moeng

    State capture is meant to be over, but we aren't free if its beneficiaries go unpunished.

  • Going Up, Going Down

    Petrol will rise by 22 c/l for December, while diesel will fall by between 15 and 16 cents.


Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH

Jul 16 2019 08:18
Jan Cronje

An investigation by law firm ENSafrica has found evidence of up to R1.2bn in "suspicious transactions" at JSE-listed ICT group EOH. 

ENSafrica recently completed a forensic probe into the firm. 

"To date the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees," EOH said in an update to shareholders on Tuesday. 

"Suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica. The exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments."

The EOH board received a copy of the internal probe in early June.

On Monday three top EOH executives announced their resignations. 

* Correction: A previous version of this article stated that the EOH board had made the ENSafrica report public on the group's website. In fact, an interim update based on the forensic probe has been made public,not the full report. 

eoh holdings  |  ict  |  companies


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote