The never-ending spate of corruption incidents in South Africa are being disclosed one after another.
The Public Investment Corporation (PIC), which is Africa’s largest resource manager, apparently found no trace of documents to indicate how and why an amount of R4bn was invested in the obscure oil company affiliated with the ANC and Jacob Zuma.
PIC has apparently invested R3.9 billion in Camac Energy, which has undergone a name change to Erin Energy, but few details are known of the so-called oil company.
The company was apparently created by a Nigerian businessman, a Kase Lawal who also founded several other structures, of which nothing is known.
PIC is apparently tasked with looking after government workers’ savings, but cannot now determine where the money is.
-Read the original article in Afrikaans on Die Vryburger
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