FFPlus questions pension company deal

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IOL jan 24 new rand money

Reuters

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Johannesburg - The FF Plus 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,” spokesman Anton Alberts said in a statement.

“The FF Plus therefore 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.

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 spokesman 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


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