Publications
Partners
Cape Town - The announcement by the board of the CEF SOC that it has decided to rescind the appointment of Tshepo Kgadima as director and chairperson of PetroSA is a victory for the political pressure exerted by the opposition on Energy Minister Tina Joemat-Pettersson, says shadow energy minister Lance Greyling.
The Central Energy Fund (CEF) manages defined energy interests on behalf of the government through a number of subsidiaries including the national oil company PetroSA, which is headquartered in Cape Town.
Sankie Mthembi-Mahanyele, chairperson of the CEF, said in a statement: “PetroSA is an imwith a mandate to advance strategic interests for the country in the petroleum industry.
"In light of the current controversy the board felt it would be impossible for Mr Kgadima to carry out the responsibilities of the chairperson of PetroSA effectively and accordingly has decided to rescind the appointment."
Greyling said on Friday that the announcement made late on Thursday was “indeed a victory for the pressure exerted politically on the minister as well as a big victory for investigative journalism”. The appointment was “irrational” from the beginning, he believed.
Kgadima stands accused of swindling more than 250 investors - including former cabinet minister Zola Skweyiya - who put money into LontohCoal, where he was chief executive officer. He was appointed to the PetroSA job two weeks ago.
Greyling said Joemat-Pettersson “was not entirely honest about her role in the appointment, which was why I saw fit to question her in parliament last week”. Joemat-Pettersson denied any involvement and said the appointment of the PetroSA chairperson is the prerogative of the holding company, the CEF.
“This is disingenuous as it has now emerged that Joemat-Pettersson recommended Kgadima to the CEF board,” said Greyling.
He pointed to the close links Kgadima holds with the governing party, with the latest revelation that he is a director of Chancellor House Financial Services, a subsidiary of Chancellor House, the African National Congress’ investment arm.
Greyling has previously called for parliament’s joint committee on ethics and members’ interests to probe the energy minister for misconduct and contempt of parliament, while Freedom Front Plus Anton Alberts said he would ask the public protector to investigate the circumstances around the appointment of the PetroSA chairperson.
Meanwhile Mthembi-Mahanyele said the primary interest of the board is to ensure that all entities in the group are stable, “well-managed and focused” on the CEF’s primary role, which is to contribute to the country’s security of energy supply.
Mthembi-Mahanyele announced that Nonhlanhla Jiyane has been appointed interim chairperson of PetroSA. Other vacancies on the board would be filled in due course.
