After more than 15 years of waiting pensioners linked to Great North Transport (GNT), a Limpopo Department of Economic Development (Ledet) entity, have finally received some good news.

President Cyril Ramaphosa has signed a proclamation authorising the Special Investigating Unit (SIU) to investigate the GNT, a Limpopo government-owned bus company, for alleged corruption and maladministration.

The investigation comes after R300 million of pension money vanished, leaving over 800 current and former GNT employees without their retirement savings.

The money was deducted from employee salaries over a period of 17 years but was never paid to the pension fund administrators.

"It's a huge relief for us," said Henry Masindi, founder of the Make it Happen Foundation, an NGO that has been acting on behalf of the pensioners.

"This is what we have been waiting for a very long time. Scores of pensioners are living in poverty after their money disappeared,“ Masindi said.

The SIU investigation will cover the disappearance of the pension money, and other allegations of corruption and maladministration at the GNT.

"We are grateful to President Ramaphosa for signing the proclamation.

"We hope that the investigation will bring justice to the pensioners and that those responsible will be held accountable…We will continue to fight for the rights of the pensioners until they receive the justice they deserve,” Said Masindi.

The GNT has been plagued by allegations of corruption and maladministration for years, with allegations of mismanagement of funds, irregular awarding of contracts and intimidation of witnesses.

The company's board has also been accused of failing in its fiduciary duties, leading to the company's collapse.

In recent months the company’s CEO Dr Matata Mokoele was reinstated after a lengthy suspension last year.

Efforts to reach Ledet spokesperson Zaid Kalla were unsuccessful after GNT spokesperson Leo Gama referred all queries to Kalla, saying there was a directive for the department to respond.

“All questions relating to the SIU investigation have been referred to the department. However, I can confirm that the CEO [Mokoele] was reinstated last year in November,” Gama said.

Asked if the pensioners were in the process of getting paid their missing money, Gama said some had been paid but the challenge was tracing some of the unpaid pensioners because some had passed on.

DA Provincial Spokesperson for Limpopo Economic Development, the Environment, and Tourism, Jacques Smalle welcomed the investigation.

"We hope that it will bring closure to the pensioners who have been waiting for so long.”

"The DA has been at the forefront of exposing the crisis at GNT and advocating for urgent action. We will continue to push for justice for the pensioners and for those responsible to be held accountable."

"The board serves as the accounting authority of the corporation, and it is clear that they have failed in their duties," said Smalle.

"We call for the immediate removal of the CEO and board. If the board is not removed, then the MEC of Ledetr and the ANC-led administration must be held accountable,” Smalle said.

The SIU investigation is expected to take several months to complete, but pensioners are hopeful that it will bring them closer to receiving their stolen pension money.