Jacob Zuma mum on $2m Aurora investment

2014-05-16 15:47

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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.

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