The Central Energy Fund (CEF), the state-owned company whose main asset is oil and gas firm PetroSA, is in talks with Sasol to buy petrol stations as the embattled chemicals and synthetic fuels group scrambles to raise cash to pay down debt.

"There are assets that are being sold currently for what used to be the national entity  that is Sasol," the fund’s chair, Monde Mnyande, told a recent parliamentary meeting. "We are looking at those and discussing very strongly with Sasol and seeing what assets we can acquire so that we can build up our entities of PetroSA and the CEF."

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