South Africa

Holomisa asks Public Protector to review US evidence against Glencore

This came after the multinational cooperation was fined $1.2 billion for bribery and violation of that country’s Foreign Corrupt Practices Act.

FILE: Head of UDM Bantu Holomisa. Photo: EWN

JOHANNESBURG – United Democratic Movement (UDM) leader Bantu Holomisa has written to Public Protector Busisiwe Mkhwebane to consider contacting the US government for evidence against mining giant Glencore.

This came after the multinational cooperation was fined $1.2 billion for bribery and violation of that country’s Foreign Corrupt Practices Act.

Holomisa said that although South Africa was not specifically named in the US indictment against Glencore, the chances that the company bribed officials and also engaged in corruption in South Africa were high.

Former Eskom CEO Brian Molefe previously claimed before the State Capture Committee that Glencore had used its political influence through former shareholder Chairman Cyril Ramaphosa to his advantage and to put the electric utility at a disadvantage.

It was reported that the US government named seven African countries in its indictment against Glencore, but it did not specify which countries these were.

Holomisa said it was important for South Africa to check whether it was one of those countries so that it could also pursue its own legal action against Glencore.

“We must also remember that it is the same Glencore that bought oil reserves in this country for a song. Maybe, given their nasty track record, you might as well find out there’s more to it.

Meanwhile, the Economic Freedom Fighters said they were not shocked by Glencore’s admission of foreign bribery and market manipulation.

The EFF has called on the South African Revenue Service to investigate all Glencore transactions from 2007 to date and use their ability to track every penny.



Holomisa asks Public Protector to review US evidence against Glencore

Source link Holomisa asks Public Protector to review US evidence against Glencore

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