MPs call sale of South Africa’s oil stocks “heinous acts” of corruption by ANC

The sale of South Africa’s crude oil reserves by the Strategic Fuel Fund, valued at around R6 billion, has been the subject of a criminal investigation by the Hawks and an internal investigation.

CAPE TOWN – MEPs criticized the sale of the country’s strategic fuel stock, calling it the “most heinous act of corruption” committed by the ruling party.

The sale of South Africa’s crude oil reserves by the Strategic Fuel Fund, valued at around R6 billion, has been the subject of a criminal investigation by the Hawks and an internal investigation.

The National Assembly on Tuesday considered the report of the portfolio committee on mineral resources and energy following its monitoring visit to the Western Cape, where it inspected the fund’s facilities.

MPs said the sale of the country’s fuel stock by the Strategic Fuel Fund had been found to be illegal and would cost the fund billions of rand.

Democratic Alliance (DA) MP Kevin Mileham said committee members were unable to get information from the Strategic Fuel Fund to be able to hold people to account, including the former Minister of Energy, Tina Joemat Pettersson.

“To date, we have not received it, so we are not in a position to follow up on the consequences that should arise from this invalid, illegal and irregular sale. And the person who ultimately signed it still sits on those benches as the chairman of the Police Portfolio Committee. Is it any wonder that no one has been arrested yet? “

Economic Freedom Fighters (EFF) MP Phiwaba Madokwe said the sale of the fuel stock was questionable and corrupt.

“The sale of the country’s strategic fuel portfolio to private entities has to be one of the most heinous acts of corruption perpetrated by the ruling party in the energy sector, an arrogant display of questionable corrupt activities of which the perpetrators knew they would go unpunished, ”he said.

Committee members adopted the monitoring report which noted how poorly managed and dilapidated the fund’s facilities were.


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Felix J. Dixon