PetroSA chair appointment rescinded

THE BOARD of the Central Energy Fund (CEF) yesterday said it had decided to rescind the appointment of Tshepo Kgadima as a director and chairman of PetroSA, the national oil company. Sankie Mthembi-Mahanyele, the CEF chairwoman said in a statement “in light of the current controversy the board felt it would be impossible for Kgadima to carry out the responsibilities of the chairperson of PetroSA effectively, and accordingly has decided to rescind the appointment”. On Monday, the DA had called for the removal of Kgadima following reports that he had allegedly swindled more than 250 investors who allegedly put money into his company, Lontho Coal, between 2010 and 2012 for projects that did not exist. “His appointment is irrational and must be set aside,” the DA said. Mthembi-Mahanyele said that Nonhlanhla Jiyane had been appointed as interim chairwoman of PetroSA. Existing vacancies on the PetroSA board will be filled in the near term. – Staff Reporter