Former energy minister Tina Joemat-Pettersson‚ under whose watch the country’s strategic oil stocks were sold off‚ qualifies for a R2m bonus. The bonus‚ a one-off gratuity‚ was approved by the National Assembly on Thursday. eNCA reported that the payment was approved as part of an adjusted budget and was diverted from funding earmarked for a national solar water heater project. DA MP Gavin Davis objected‚ asking why the R2.1m golden handshake was approved when the former minister authorised the sale of our oil reserves at a cost of R2bn to our economy. Business Times reported in October that SA would suffer a loss of at least R3.3bn because of the sale of the country’s strategic fuel reserves in December 2015 and January 2016. A confidential forensic audit report by auditing firm KPMG painted a different picture to Joemat-Pettersson’s repeated claims that the fuel stock was not sold but rotated. It found that the contracts entered into regarding the sale of the fuel stock were rende...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.