On Now
Weekdays 09:00 - 12:00
Mid-Morning Magic Yolanda
NEXT: 12:00 - 15:00 At Lunch with Pulane
Listen Live Streams

National

ANC has more than a quarter of Shell SA shares

───   SABRINA DEAN 12:37 Wed, 28 Jan 2015

ANC has more than a quarter of Shell SA shares | News Article

Johannesburg - Environmentalists opposed to plans to allow shale gas exploration to occur in the Karoo have expressed concern over the ANC allegedly holding more than a quarter of the shares in Shell SA.

According to a statement by the Treasure the Karoo Action Group (TKAG), news first broke in 2012 that the ANC held shares in the oil company through its Batho Batho Trust, which held a majority stake in Shell’s local empowerment partner Thebe Investments.
The TKAG says an article in Business Day last week revealed Thebe has increased its shareholding, with mergers between Shell SA marketing and Shell SA Refining leaving it with a final stake of 28% in the entire Shell SA operations.
 
TKAG Operations manager Jeanie le Roux says this recent move is concerning, especially since concerns over conflict of interest have been raised since 2012.
 
Sabrina Dean/OFM News


@ 2024 OFM - All rights reserved Disclaimer | Privacy Policy | We Use Cookies - OFM is a division of Central Media Group (PTY) LTD.