Jacob Zuma mum on $2m Aurora investment

2014-05-16 15:47

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

President Jacob Zuma’s office declined to comment on a report alleging that he had a hand in securing an investment for his nephew’s mining company in 2010.

“No, no, there is no comment, as you can see from the story itself,” his spokesperson Mac Maharaj told Sapa.

He was referring to a Mail & Guardian report today that Zuma allegedly helped secure a $2m (R19.2m) investment for Khulubuse Zuma’s Aurora Empowerment Systems company.

In the report, Maharaj confirmed he had received detailed questions about the allegations but later indicated there was no response from the presidency.

Global Emerging Markets (Gem) director Chris Brown told the newspaper he had been treated to a face-to-face meeting with Zuma on the morning of the Fifa World Cup final on July 11 2010.

He alleged in the report that Zuma “thanked him many times” for helping to bail out the flailing company during their meeting in Zuma’s living room.

At the time of the claimed meeting, Aurora was desperately trying to raise funds to follow through on its bid to buy the Pamodzi gold mines out of liquidation.

The newspaper stated Brown’s claims were buttressed by circumstantial evidence.

Gem launched legal action against FNB after the investment it paid into an account was later transferred and disappeared. A bank employee has reportedly resigned, and FNB said it intended defending itself against the claim.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.