Radebe removes Central Energy Fund chairman Luvo Makasi | Fin24
 
  • Ace vs. SA Reserve Bank

    The ANC secretary general has again weighed in on the central bank's mandate.

  • Mandela Day

    Nationalisation, privatisation and land: What Mandela told business in 1990 still resonates today.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Radebe removes Central Energy Fund chairman Luvo Makasi

Mar 17 2019 11:31
Paul Burkhardt, Bloomberg, and Fin24

Energy Minister Jeff Radebe removed Luvo Makasi as chairman of the nation’s Central Energy Fund, citing “serious allegations.” 

Makasi, a director and chairman of the board at the CEF, which oversees South Africa’s state-owned oil company and energy assets, responded to the allegations, the energy ministry said Saturday in a statement without providing details.

It didn’t immediately reply to an email seeking comment.

“Having considered Mr. Makasi’s written response, the Minister on 15 March wrote to Mr. Makasi, removing him,” the ministry said.

Kevin Mileham, the DA's energy spokesperson, said in a statement on Sunday afternoon that he intends to lay charges this week with police in connection with the case.

He said he would also present a dossier to the judicial commission of inquiry into state capture, saying the commission has the "top-level investigative power to thoroughly examine what happened".

*Update: This article was update with comments made by DA energy spokesperson Kevin Mileham at 15:30 on Sunday, March 17.


NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

FaceApp has been at the centre of a debate on data security. What is your view?

Previous results · Suggest a vote

Loading...