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.

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


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