Motsepe denies energy conflict of interest

Mining magnate Patrice Motsepe has denied that his renewable energy business has benefited from his relationship with his brothers-in-law – President Cyril Ramaphosa and energy minister Jeff Radebe.

Motsepe, chair of African Rainbow Energy and Power, called a media briefing on Monday to address allegations that Ramaphosa was pursuing the inclusion of independent power producers because Motsepe was benefiting from the project.

African Rainbow Energy CEO Brian Dames said it did not participate in the department of energy’s project relating to the provision of electricity to Eskom under rounds 1, 2, 3 and 3.5, the total equity value of which was R47.2bn.

“The total equity value of [African Rainbow Energy’s] current renewable energy projects is approximately R800m, or 3.9%, of the total equity value of the department of energy’s round 4 REIPP programme which is R20.6bn,” Dames said.

Motsepe said when Radebe was appointed energy minister in 2018, he had told Dames that African Rainbow Energy had a major and serious perception problem.

Dames said the market for the company’s growth was in the rest of the continent.

Motsepe said in the past, his companies had avoided doing business with government.

He said some of the allegations made against him were “excessively ridiculous”, such as that he had had a hand in the recent power cuts.