New PetroSA boss 'ran away with my money': Skweyiya

A businessman who once allegedly swindled top ANC leaders out of millions in an investment scheme has been appointed chairman of the PetroSA board.

This has angered former cabinet minister Zola Skweyiya, one of the ANC leaders allegedly defrauded by Tshepo Kgadima, the CEO of LontohCoal Ltd.

Skweyiya, Health Minister Aaron Motsoaledi and businesswoman Wendy Luhabe are among a long list of people who invested in Kgadima's company after being promised a 5% commission.

The Central Energy Fund (CEF), through which the government controls PetroSA, announced on Friday that it had appointed Kgadima chairman.

When told of Kgadima's appointment yesterday, Skweyiya first laughed, then expressed shock.

"Who did that? How could I agree to that? I wouldn't agree. That boy ran away with my money. I am still looking for my money," he said.

He later called CEF chairwoman and former cabinet minister Sankie Mthembi-Mahanyele to ask her about the appointment.

"I spoke to Sankie. She says she didn't know this man. I told her they should be very careful and not appoint someone like that in any position. PetroSA is a very important institution. She said she will advise the minister."

Mthembi-Mahanyele had sung Kgadima's praises in a statement released on Friday.

"The new directors bring a wealth of expertise and experience into the group and we are confident that they will help steer the national oil company in the right direction as it seeks to deliver on its mandate and mission, which are to advance national objectives in the petroleum industry and be the leading provider of hydrocarbons and related quality products," Mthembi-Mahanyele said in the statement.

Skweyiya told the Sunday Times he had not received a cent from Kgadima's company since investing while he was South Africa's high commissioner to the UK.

"That boy runs away from me all the time and from the lawyers who are chasing him. Where is he? He is a crook," said Skweyiya.

He said he invested R1-million of his savings with Kgadima after his wife told him about an investment opportunity. She had been introduced to the company by their nephew, Nkululeko Skweyiya.

A Sunday newspaper reported in 2012 that the Skweyiya family trust had invested R2-million and the nephew put in R1.6-million. Luhabe reportedly invested R160500 and Motsoaledi put in R1000.

Skweyiya revealed he had appointed Nelson Mandela's former lawyer Bally Chuene to track down Kgadima and recoup his money - but Kgadima failed to pitch up in court.

This is not the first time that PetroSA has been involved in controversy. In 2005, it was at the centre of the Oilgate scandal after it emerged that Imvume Management paid R11-million to the ANC - money that came directly from an advance payment of R15-million made by PetroSA's purchase of oil condensate.

Luhabe refused to comment, saying she did not discuss her investments in the media.

Motsoaledi was not available for comment at the time of going to press.

CEF spokesman Mandla Tyala said Kgadima's appointment had been approved by the board of directors. He declined to comment on Kgadima's past or state whether a background check had been conducted.

Kgadima did not respond to calls.

shobas@sundaytimes.co.za