FFPLUS asks for probe involving R3bn

2014-02-15 05:30
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Johannesburg - The FFPlus has asked Public Protector Thuli Madonsela to investigate a R3 billion investment transaction between an oil company and a corporation.

"The Freedom Front Plus would like to know exactly what is happening," spokesperson Anton Alberts said in a statement.

"The FF Plus requested the public protector to investigate the whole transaction and also to look at any advantage which the ANC may receive from it."

The allegation involved Camac Energy and the Public Investment Corporation (PIC), which manages the state's pension fund.

Large portion

The Mail & Guardian reported on Friday that the PIC planned to invest the money with Kase Lawal, Camac's chief executive and an acquaintance of President Jacob Zuma.

Alberts said the transaction involving R3bn was questionable.

"Everything points to the [oil] company being on the brink of bankruptcy and the possibility exists that a large portion of the money can be channelled back to the ANC's election fund."

ANC spokesperson Jackson Mthembu could not be reached for comment.

The newspaper said the PIC failed to answer questions and the ANC did not respond to its question on whether Lawal had given it funding.

- SAPA
Read more on:    camac energy  |  ff+  |  pic  |  jacob zuma  |  johannesburg  |  energy
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