The Sunday Times reported that Radebe’s team had already spent about R20m pursuing the deal, including hiring a private jet to fly to South Sudan
Energy minister Jeff Radebe has defended the country's $1bn involvement in oil exploration in South Sudan, saying it was aimed at securing affordable oil supplies for SA.
A Treasury official told the publication that it made no sense for SA to make an investment of that size when the country was trying to boost its economy by attracting foreign investment. The publication reported that the minister's team had already spent about R20m pursuing the mystery deal, including hiring a private jet to travel to the underdeveloped country.
Radebe said noted that SA was a net importer of crude oil and was engaged with other African countries on the continent to secure access to it to ensure self-sufficiency and to find ways to mitigate fluctuations in fuel prices in the long term. Exploration was a costly but necessary exercise and SA was also engaged with Nigeria, South Sudan and Equatorial Guinea for this purpose.
Radebe said President Cyril Ramaphosa had empowered him to sign a government to governmentmemorandum of understanding with South Sudan. This MOU had been submitted to parliament, and since the project was still at a feasibility phase, it so did not at this stage require cabinet or Treasury approval at this stage.
The minister denied the report that said it was incorrect as the newspaper claim that the SFF board had rejected the expenditure related to the project and that the CEF had rejected the project as alleged because it had never been formally tabled before its board for approval.
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