Kindly brought to you by THUMAMINA!!!
In June 2016, SFF (an SOE) expressed and advanced interests to buy 75% stake sold by Chevron SA, but DoE minister Tina Joemat-Peterson called the deal off and said it did not make sense and labelled SFF as having no understanding of business.
In March 2017, Sinopec confirms that it will pay R12.62 billion for a 75% stake in Chevron Corporation’s South African assets and its subsidiary in Botswana. That includes a 1 million a day barrel refinery plant in Cape Town and 845 Caltex fuel service stations with 220 convenience stores.
In May 2018, Glencore is close to the same R12.62 billion 75% stake deal at Chevron which was called off by DoE when the SFF showed interest. Futhermore, when Ramaphosa became president, the Sinopec deal stalled in favor of Glencore.
Let’s summarize and wrap it up…
Glencore is owned by billionaire Ivan Glasenberg, who is Cyril Ramaphosa’s former business partner and handler. Now do you remember the Gupta-Optimum Mine-Glencore war, does it make sense??
How did the Sinopec deal stall??
It stalled after a “black-investor group supported by Glencore backed off. This “black owned investor group” is known as OTS at 94 Jan Smuts Avenue, Saxonworld, Gauteng with its directors listed as Jack Roswald, Jim Taylor and Sam Ronald. Are they black??
How is Glencore closing off the Chevron deal?
The PIC which invests the pensions of civil servants will partner with Glencore and emerge as a 50% partner. Yes, R6.3 billion of your pensions will enrich Ivan Glasenberg, yes Ramaphosa will help his friend to own 845 Caltex fuel service stations. And with the rise of the fuel prices, they will be reaping profits at your expense and sweat.