Cosatu calls for disbanding of Central Energy Fund board

A statement released by the energy ministry on Tuesday afternoon denied that members of the Central Energy Fund board have been suspended. This, after a report that they had been asked to leave the office.

The board was appointed in December 2016 after ten million barrels of the Strategic Oil Fund was sold in secret in December 2015 while the oil price was at record low.

Also Read: '10 million barrels of oil sold off in secret is heist of the democratic era'

Sizwe Pamla, spokesperson of the Congress of South African Trade Unions (Cosatu), says his organisation is disappointed to have heard the board has not been suspended.

We still demand accountability and answers. From where we stand we believe this is the lowest of the low.

Sizwe Pamla, Spokesperson of the Congress of South African Trade Unions

Looking at what CEF has done, we the workers have to pick up after their mess, says Pamla.

He says Cosatu will continue to demand action from the minister of energy, Mmamoloko Kubayi and answers from the board.

Also read: Stephen's infamous Gupta interview got a brief mention in BBC doccie

We want an investigation into what went wrong. For now, we want that board investigated.

Sizwe Pamla, Spokesperson of the Congress of South African Trade Unions

Pamla goes on to say that the most important thing right now is to disband the board. He says they are numbed by the level of corruption and mismanagement of state owned entities.

Listen here:


This article first appeared on 702 : Cosatu calls for disbanding of Central Energy Fund board


Recommended

by NEWSROOM AI
Read More
'10 million barrels of oil sold off in secret is heist of the democratic era'

'10 million barrels of oil sold off in secret is heist of the democratic era'

Journo Carol Paton says Energy Minister Kubayi wants those involved in the sale of strategic oil fund held accountable.

Energy Minister Kubayi confirms PFMA violation in fuel reserve sale

Energy Minister Kubayi confirms PFMA violation in fuel reserve sale

Kubayi spoke to 702's Karima Brown about the controversial sale of South Africa’s strategic oil stock.

New Energy Minister to probe unauthorised sale of strategic fuel stock

New Energy Minister to probe unauthorised sale of strategic fuel stock

Minister Mmamoloko Kubayi spoke about the sale of SA's strategic fuel stock without the sign off from National Treasury, and more.

Why SA no longer has strategic oil reserves

Why SA no longer has strategic oil reserves

John Maytham spoke to Business Day’s Carol Paton after new energy minister admitted selling off the country's oil reserves.

Energy minister gets the nod (for now) from DA shadow minister

Energy minister gets the nod (for now) from DA shadow minister

New Energy Minister Mmamoloko Kubayi has committed to fixing errors of her predecessor.

Popular articles
You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

Group distances itself from N2 car spinners caught on film

Group distances itself from N2 car spinners caught on film

It turns out that the petrol heads who span cars on the N2 were part of the SA Torque Cape Town Breakfast Run.

Uber customer threatened with hockey stick by driver

Uber customer threatened with hockey stick by driver

An Uber customer shares how she was threatened by an Uber driver with a hockey stick after a disagreement.

Unauthorised debit orders: When last did you check your bank statement?

Unauthorised debit orders: When last did you check your bank statement?

Unauthorised debit orders are a huge problem affecting thousands of South Africans.

Heads to roll for N2 car spinning frenzy

Heads to roll for N2 car spinning frenzy

WC Traffic Chief says there was no authorisation given for cars to be spun on a provincial road with the protection of officers.

Menthols far deadlier than regular cigarettes, finds FDA. BAT shares tumble 11%

Menthols far deadlier than regular cigarettes, finds FDA. BAT shares tumble 11%

A proposed FDA ban wiped R176bn from British American Tobacco's market cap. Bruce Whitfield talks to Dr Richard van Zyl-Smit.