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Vol 56 No 13

Published 26th June 2015

South Africa

Petrol projects trouble

PetroSA is the latest state-owned giant to suffer labour and financial problems, with managers first in the firing line

The Board of the state-owned Petroleum, Oil and Gas Corporation of South Africa has suspended two senior executives three weeks after the government demanded they go on gardening leave over PetroSA's poor performance, bad investments and falling income. The group Chief Executive Officer, Nosizwe Nokwe-Macamo, the Chief Finance Officer, Lindiwe Mthimunye-Bakoro, and the acting Vice-President for Upstream Operations, Andrew Dippenaar, received letters on 27 May telling them to go on 'forced leave' because of the way they had managed operations and that the board would be taking over.

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