South Africa - 01

South Africa: SFF Bid Highlights Disarray within Department of Energy

On 29 June the SFF announced that it had offered to purchase Chevron South Africa’s assets, which include a refinery in Cape Town and a network of Caltex retail fuel stations. According to reports, the SFF expressed its interest shortly after Chevron announced its decision to divest in January and made a formal offer on 24 June. However, on 30 June Minister of Energy Tina Joemat-Pettersson announced that the SFF had not consulted her on its decision, nor had it conferred with the Treasury, which is also required to approve such transactions under the Public Finance Management Act.


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