for subscribers

Energy minister wants to clean house after fuel stock saga

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town – The sale of South Africa’s strategic fuel stock in December 2015 prompted Energy Minister Mmamoloko Kubayi to second her director-general to act as chief executive officer at the Strategic Fuel Fund. 

Addressing journalists after her budget vote speech earlier on Friday, Kubayi said Thabane Zulu, Director-General at the Department of Energy, will act as CEO of the Strategic Fuel Fund. 

Kubayi said the when she came into office in April the report on the strategic fuel stocks confirmed it was a sale, not a rotation of stock. 

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.61
(+0.34)
ZAR/GBP
23.01
(+0.20)
ZAR/EUR
20.76
(+0.25)
ZAR/AUD
12.61
(+0.24)
ZAR/JPY
0.17
(+0.27)
Gold
2029.22
(+0.11)
Silver
28.05
(-0.26)
Platinum
974.00
(+1.14)
Brent Crude
44.54
(0.00)
Palladium
2163.00
(-0.65)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 937 votes
It depends on how the funds are used.
74% - 6261 votes
No. We should have gotten the loan elsewhere.
15% - 1286 votes
Vote