Pretoria – Finance Minister Pravin Gordhan has set the record straight with regard to reports that there might be Libyan assets and funds in South Africa, saying the reports conflate “fact and allegations” but present all of them as facts.
In a statement on Thursday, Gordhan said allegations that Libyan funds and assets were brought to South Africa inappropriately could not be backed up by any evidence.
“None of the people who have made these allegations have produced evidence regarding the transfer of these assets and funds to South Africa. Those who have evidence should hand it over to the relevant Libyan or United Nations authorities,” he said.
The minister said, however, that there were Libyan assets in South Africa in the form of investments made in several consortiums.
“There are Libyan shareholdings in South African entities that were made on a commercial basis. These include the Michelangelo Towers in Sandton, the Centurion Lake Hotel, the Commodore and Portswood Hotels in Cape Town, and the Kruger Park Lodge in Mpumalanga.”
Gordhan’s statement comes after his meeting with Libyan officials led by the Minister in the Office of the Libyan Prime Minister, Usama al Abid - who had approached him for help with the repatriation of assets from the country.
After the meeting, Gordhan and the Libyan government agreed that the repatriation of the assets would be handled in terms of United Nations protocols, where the latter established a single body in 2012 to coordinate the repatriation of assets to Libya.
This body cooperates with the committee formed in terms of the UN Security Council Resolution 1970 (2011) and the Panel of Experts which coordinates the orderly and transparent repatriation to Libya of assets frozen in various countries.
Gordhan said Libyan authorities will determine the future of these assets and funds.
“Let me reiterate that South Africa will continue to engage with the legitimate Libyan authorities on this matter and in support of our international obligations.
“All the relevant institutions that report to the Ministry of Finance will cooperate with other government departments and agencies to trace and verify any funds and assets affected by the relevant United Nations processes and that may have found their way to South Africa.” – SAnews.gov.za
