Hawks mum on R2 trillion Libya assets in SA

2014-12-07 14:44
Late Libyan leader Muammar Gaddafi (File, AP)

Late Libyan leader Muammar Gaddafi (File, AP)

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

Johannesburg - The Hawks declined to comment on reports on Sunday that an investigation into Libyan assets stored in South Africa was under way.

"We are at a level where we cannot comment on the matter," spokesperson Captain Paul Ramaloko said.

The Sunday Independent reported that R2 trillion in US dollars from Libya is stored at seven heavily-guarded warehouses and bunkers in secret locations in Pretoria and Johannesburg.

The newspaper reported that the Hawks were investigating a possible violation of exchange control regulations.

The assets, which included hundreds of tons of gold and six million carats of diamonds, were ferried to South Africa in at least 62 flights between Tripoli and South Africa, according to the publication.

The R2 trillion excludes several billion rands held legally in four banks in South Africa.

Most of the assets were taken out of Libya when President Jacob Zuma got involved in an African Union process to persuade former Libyan president Muammar Gaddafi to step down after an uprising to force him out of office began in February 2011, according to the newspaper.

On 10 April 2011, Zuma announced that Gaddafi had accepted a roadmap for ending the conflict in that country following talks in Tripoli. Libyan rebels rejected the plan.

Gaddafi was captured and killed on 20 October that year.

Read more on:    hawks  |  muammar gaddafi  |  libya  |  north africa

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

Financial advisors – Do you need one and should you get one?

The good, the bad, and everything else you need to know when considering hiring a financial advisor.


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.