The Central Energy Fund (CEF) manages defined energy interests on behalf of the government, including the development of the country’s oil and gas assets. The board of the CEF also oversees South Africa’s state-owned oil company and energy assets.
According to the Energy Ministry, CEF chairperson Luvo Makasi was removed from his position following serious allegations that were brought to the attention of the minister.
Luvo Makasi has allegedly attempted to solicit a bribe of $2.5m from oil trading firms from Glencore and Vitol on behalf of senior politicians and officials, including deputy president David Mabuza, minister of energy Radebe, ANC treasurer general Paul Mashatile, and senior officials in the department during a meeting in November 2018.
Luvo Makasi’s case is one among other serious cases that have affected South Africa in recent years. Since the end of apartheid, leaders of the A.N.C. have reportedly siphoned off, for their own benefit and the benefit of their allies, tens of billions of dollars of public funds meant to improve the lives of black South Africans.
When Cyril Ramaphosa took over as president of South Africa last year, he spoke of the need to clean out the corruption that had tainted the almost nine-year rule of his predecessor, Jacob Zuma, and make the government more accountable.