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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.

It’s alleged Makasi said the payoff would have gone to Deputy President David Mabuza, ANC Treasurer Paul Mashatile and Energy Minister Jeff Radebe.

Radebe’s Department yesterday reported Makasi had been fired after serious allegations were brought to the attention of the Minister.

Newspaper reporting appears to imply that Radebe may only have fired Makasi to cover himself. If this is even a possibility it must be fully investigated.

I will therefore lay charges this week in connection with this case, and will present a dossier to the Zondo Commission on state capture, in the belief that it has the top-level investigative power to thoroughly examine what happened.

Meanwhile, if Radebe is serious about holding Makasi accountable for his mismanagement of the CEF, he should make sure that Makasi does not get any state benefits arising from his role as the former Board Chairman of the CEF. His resignation appears well timed to ringfence his benefits, which he stood to lose had he been fired.

A year into the Ramaphosa Presidency, which is supposed to be cleaning up ANC corruption, it’s still unclear how and why South Africa’s fuel stocks were sold. These latest allegations show the stench of corruption still clings to people who are at the heart of the ANC government.

At a time when the energy sector is being ripped apart due to ANC mismanagement, from rolling Eskom bail outs to rising fuel costs, South Africans have an opportunity on the 8th of May to reverse the trend and vote a DA government that will deliver change to get South Africa working again.

Issued by The DA