DURBAN – Troubled information technology group EOH Holdings has blacklisted 50 enterprise development partners following an investigation into suspicious payments totalling R1.2 billion.
The group said yesterday that it had reported the entities and individuals involved to the Hawks for possible prosecution after law firm ENSafrica completed about 80 percent of the investigation into the suspicious transactions.
The group appointed ENSafrica in February to probe a number of public sector contracts after allegations of corruption and poor governance and compliance emerged. EOH said the suspicious transactions had since been revised down to R935 million.
The group said they included payments with no evidence of contracting or work done valued at R665m, written-off loans amounting to R90m and over-billing of about R180m.
“Some of these partners have initiated legal challenges against the company. However, EOH will robustly oppose legal challenges brought by such parties,” the group said after it released its long-awaited results for the year to the end of July.