There’s a need for a high-powered probe of new corruption allegations involving three top ANC leaders
17 March 2019
The DA is going to initiate a police investigation into allegations that the recently resigned Chair of the Central Energy Fund tried to solicit a bribe from oil trading firms on behalf of 3 senior ANC leaders.
Central Energy Fund (CEF) Chair Luvo Makasi resigned his position just an hour before being fired by Energy Minister Jeff Radebe on Friday. Makasi is a controversial figure and close associate of Environment Minister Nomvula Mokonyane.
Makasi is alleged to have tried to solicit a bribe of $2.5 million from oil trading companies Glencore and Vitol in return for dropping a government case against the two companies involving the sale of South Africa’s strategic fuel stockpile.
The CEF brought the case in a bid to invalidate the 2015 sale of South Africa’s crude oil stocks at rock bottom prices. The sale caused a massive financial loss to the state and huge potential profits to the oil trading companies.