ENERGY Minister Tina Joemat-Pettersson has fired the chairman of the Central Energy Fund (CEF), Xolani Mkhwanazi, for his role in the aborted attempt by the Strategic Fuel Fund (SFF) to acquire the South African assets of US oil company Chevron in June.The CEF is the holding company of the SFF and is responsible for overseeing its affairs.He is the third casualty of the Chevron bid, in which the fund made the unauthorised offer for the assets including a Cape Town refinery, Durban lubricants plant and the network of 845 Caltex retail fuel stations.In July, the acting CEO of the SFF, Sibusiso Gamede and the chairman Riaz Jawoodeen resigned after the transaction came to light.Mkhwanazi has a strong reputation in the private sector and serves on several boards including rail consortium Gibela, Murray & Roberts and South 32.He could not be reached for comment on the claims made by the minister.At the time, Joemat-Pettersson — who is the shareholder minister of the CEF — asked Mkhwanazi ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.