Was Maduna's R320m BEE benefit a payoff for screwing the rand?


Was Maduna's R320m BEE benefit a payoff for screwing the rand?

Battle with his ex unearths a curious patronage gratuity worth a quarter of a billion rand, and much more.

A recent post-divorce scrap in the courts calls for a recap of a story that appeared in Noseweek in July last year (nose189). In that story we recounted how, in July 2006, within two years of his quitting the South African Cabinet as Justice Minister, Penuell Maduna had spearheaded a so-called BBEE deal designed and implemented by Sasol (in recent years listed both on the JSE and in New York).

Sasol said its new BBEE partner, Tshwarisano (Sesotho for “pulling together”) was comprised of “many historically disadvantaged groups around the country”. Its chief “promoters” were named as Penuell Maduna, Hixonia Nyasulu and Reuel Khoza.

To what extent did the three “promoters” benefit from the deal? Nothing was said about that, but the suggestion was they would only be three among thousands.

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