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Dropped PetroSA chair refutes fraud allegations

Tshepo Kgadima’s appointment was withdrawn after he allegedly lied about assets his company controlled.

PetroSA Chairperson Tshepo Kgadima. Picture: LinkedIn.

JOHANNESBURG - Former PetroSA chairman Tshepo Kgadima has once again refuted a series of fraud allegations made against him.

It emerged last week Kgadima had allegedly lied to investors about the assets his company controlled.

But he says this isn't the case.

"The lie that has been repeated over and over again is I made claims and nobody has produced any evidence of me making claims. I am the chief executive officer of a public company called LontohCoal Limited and LontohCoal Limited has disclosed to its shareholders, as well as to the public, in terms of where its operations are."

Meanwhile, a representative of former Cabinet Minister Zola Skweyiya says Kgadima is lying about the assets his firm controlled.

Kgadima has been accused of taking money from investors, including Skweyiya, after claiming his companies had assets they did not in fact possess.

A family representative for the former minister says, "He can't seem to tell the truth. It's a known fact that his assets have been bogus and the only thing now is the mark of a desperate man going around saying that he's been verified and whatever … saying that he's got proof."

Questions have been raised about why the Central Energy Fund appointed Kgadima and whether it was only because Energy Minister Tina Joemat-Pettersson recommended him for the post.

Last month, the Energy Ministry admitted Joemat-Pettersson had recommended Kgadima to the post, after she had earlier appeared to deny any role in his appointment.

When asked why Kgadima was appointed in the first place, the fund's Mandla Tyala said it was because of his history, adding that any other questions about why Kgadima was appointed must be answered by Joemat-Pettersson's staff.