PetroSA chairman gets fired

Controversial PetroSA chairman Tshepo Kgadima got the boot yesterday.

Kgadima has had a tumultuous time at the national oil company, culminating last week in accusations that he owed millions to about 250 investors in allegedly fraudulent company Lontoh Coal.

He stormed into Times Media's offices after it was reported in the group's Business Day that former cabinet minister Zola Skweyiya was considering asking that Kgadima be criminally charged in connection with R3-million Skweyiya said he had lost.

Kgadima was escorted out of the Times Media building by security personnel.

"In light of the current controversy," said Central Energy Fund chairman Sankie Mthembi-Mahanyele yesterday, "the board felt it would be impossible for Mr Kgadima to carry out the responsibilities of the chairperson of PetroSA effectively, and accordingly has rescinded the appointment."

The fund manages energy interests on behalf of the government through a number of subsidiaries, including PetroSA.

"The primary interest of the board is to ensure that all entities in the group are stable, well-managed and focused on the CEF's primary role, which is to contribute to the security of the country's energy supply," said Mthembi-Mahanyele.

Energy Minister Tina Joemat-Pettersson last week dodged questions about the appointment of Kgadima, saying that it had not been a cabinet decision.

But a letter dated October 10 showed that Joemat-Pettersson had indeed recommended him, Business Day reported earlier this week.