In December 2023, Shumani Lawrence Mulaudzi signed a $1.2-billion (R20-billion) deal with state-owned PetroSA, appointing his company Equator Holdings to fund and build pipelines and other infrastructure for a future gas industry.
Four months later though, Equator was liquidated for failing to pay a R725 000 debt to a First Division soccer player.
“This discovery,” he later told the Johannesburg H...
Steelman: The narrative presented in this article can be strengthened by acknowledging that PetroSA's decision to reconsider Equator Holdings for the RFP0004/2023 tender might be based on a change in circumstances or new information about Equator's financial status, rather than a lack of governance and decision-making at PetroSA.
Patterns detected: ARC-0043 Motte-and-Bailey (raising questions about PetroSA's governance while implying but not explicitly stating wrongdoing), ARC-0024 Ambiguity (th...