PetroSA chair appointment rescinded

Johannesburg - The appointment of PetroSA director and chairperson Tshepo Kgadima has been rescinded, the parastatal said on Thursday.

"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," holding company, CEF (SOC) Limited's chairperson Sankie Mthembi-Mahanyele said in a statement.

"The primary interest of the board is to ensure that all entities in the group are stable, well-managed and focused on CEF's primary role which is to contribute to the country's security of energy supply."

Nonhlanhla Jiyane has been appointed as interim chairperson of PetroSA.

According to reports, Kgadima was allegedly involved in fraud that led to the loss of millions of rand by investors while he was chief executive and president of LontohCoal.

The reports further state that Kgadima was recommended for the post of PetroSA chairperson - along with three other candidates - by Energy Minister Tina Joemat-Pettersson, in a letter sent to Mthembi-Mahanyele on October 10.

Last week, Kgadima was reportedly escorted out of the Business Day office's in Rosebank, Johannesburg after he refused to leave when a visit to editor Songezo Zibi deteriorated into a confrontation.

The newspaper reported that Kgadima arrived at the office and was invited to answer questions on the claims that he had swindled money out of prominent politicians and investors in mining projects which did not exist.

However, Kgadima reportedly insisted on interrogating Zibi on whether or not he adhered to the press code.