Khulubuse Zuma’s R100bn oil deal

2014-05-18 06:00

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Controversial business tycoon Khulubuse Zuma is sitting on a R100?billion oil fortune in the Democratic Republic of Congo (DRC),?which he allegedly obtained with the help of his uncle, President Jacob Zuma.

A City Press investigation has discovered that President Zuma played a crucial role in a 2010 decision by DRC President Joseph Kabila to allocate two oilfields in the northeast of the country to his nephew.

Eight months before Kabila issued a decree for Khulubuse Zuma to bag two of the most prized oil licences in sub-Saharan Africa, Jacob Zuma met his DRC counterpart in Kinshasa, where they allegedly discussed the oilfields.

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