Gadaffi's 'missing millions'

The South African president has been asked to help recover millions of dollars belonging to the late Libyan dictator Muammar Gaddafi, which government sources say was hidden at former president Jacob Zuma's Nkandla residence.

08 April 2019 | Africa

Libyan military authorities have asked South African President Cyril Ramaphosa to help recover a stash of cash, estimated to about R442 million, belonging to the late Libyan dictator Muammar Gaddafi, that is now believed to be in Eswatini (formerly Swaziland), according to The Sunday Times.

The newspaper reports that the money was secretly moved to Eswatini earlier this year from former president Jacob Zuma's Nkandla residence where it had been hidden.

A high-ranking intelligence source told the Sunday Times that its investigations had revealed that the money had been moved in five tranches from Nkandla and transported to Eswatini.

King Mswati III reportedly confirmed the existence of the money to Ramaphosa last week during a meeting at OR Tambo International Airport.

According to the Sunday Times' sources, Zuma travelled to Libya in 2011 with then intelligence minister Siyabonga Cwele, where the delegation offered the Libyan leader safe passage to SA as rebel forces closed in.



Good lawyer

According to an insider, Gaddafi gave Zuma the cash, saying that if he was captured Zuma must find him a good lawyer to represent him at the International Criminal Court.

Gaddafi died while being chased by rebels in Tripoli in October 2011.

The Sunday Times was unable to get comment from Zuma's spokesperson, Vukile Mathabela.

Ramaphosa's spokesperson, Khusela Diko confirmed that the president had travelled to Eswatini last month but would not confirm what transpired at that meeting with the King or at the subsequent meeting at the airport.

In 2013, IOL reported that Zuma told the National Assembly he knew nothing about the billions of dollars of Libyan money that Gaddafi and his family were believed to have stashed in South Africa and neighbouring countries during his 42-year rule.

This is after he was approached by officials from the Libyan government.

Soon after Gaddafi's death, the new Libyan government had embarked on a large-scale mission to recover legal and illegal assets in South Africa, the rest of Africa, the US and Europe.

In 2014, it was revealed that as much as R2 trillion in US dollars as well as hundreds of tons of gold and at least six million carats of diamonds in assets belonging to the people of Libya was been kept secretly in various warehouses across the country.

This was separate from the R260bn, held legally in four banks in the country, according to IOL.



NEWS24

Similar News

 

Response plan to improve health access, protect economies

2 months ago - 06 May 2020 | Africa

The African Union Development Agency (AUDA-NEPAD) has launched a COVID-19 Response Plan of Action to assist African countries to improve access to sustainable and resilient...

Namibian companies consider AfCFTA boon

7 months ago - 19 November 2019 | Africa

CATHERINE SASMANNamibia recently signed the African Continental Free Trade Agreement (AfCFTA) that could potentially unlock the massive African market of 1.2 billion people as the...

Small burial for Mugabe

9 months ago - 30 September 2019 | Africa

The body of Zimbabwe's former president Robert Mugabe was buried on Saturday in his rural village of Kutama, an AFP reporter at the scene said.The...

Another dos Santos falls

9 months ago - 30 September 2019 | Africa

One year ago, the dos Santos family handed the Angolan presidency over to Joao Lourenco. The new president promised to tackle corruption which crippled the...

South Africans are not xenophobic

9 months ago - 17 September 2019 | Africa

South African president Cyril Ramaphosa has apologised for the violent attacks by South Africans against nationals of other African countries, saying South Africans are not...

Mugabe: Hero or zero?

9 months ago - 16 September 2019 | Africa

Some believe the late Robert Mugabe was thrown into the dustbin of history when he was deposed as president of Zimbabwe in 2017, yet many...

Mugabe: Liberation hero turned despot

10 months ago - 06 September 2019 | Africa

Robert Mugabe, who has died aged 95, used repression and fear to hold on to power in Zimbabwe for 37 years until he was finally...

Namibia urges vigilance after SA attacks

10 months ago - 03 September 2019 | Africa

The Namibian High Commission in South Africa has issued an advisory, urging countrymen and women in and around the Gauteng Province to be vigilant following...

Strengthening news from the sub-region

10 months ago - 20 August 2019 | Africa

The Southern African Broadcasting Association (Saba), in partnership with the national broadcasters of countries in the region, officially commissioned the Eye on SADC news programme...

Bureau Veritas inspires

10 months ago - 16 August 2019 | Africa

Bureau Veritas Southern Africa, the global leader in testing, inspection and certification, continues to spark interest in the southern African professional working environment. The company...

Latest News

Namibia's airport gears for operations...

19 hours ago | Business

Namibia's flagship airport the Hosea Kutako International Airport (HKIA) is ready for its restart plan as borders are going to gradually open under the provisions...

'Swapo campaign benefitted from Fishrot'

19 hours ago | Crime

JEMIMA BEUKESWINDHOEKA State witness in the ongoing bail application of former fisheries minister Bernhardt Esau and his son-in-law Tamson Hatuikulipi dropped a bombshell yesterday when...

Itula not a competitor –...

19 hours ago | Politics

OGONE TLHAGEWINDHOEK The Affirmative Repositioning (AR) movement does not see the Independent Patriots for Change (IPC), a mooted political party led by former presidential...

Air Namibia wants its wings...

19 hours ago | Transport

OGONE TLHAGEWINDHOEKAir Namibia has written to the Transport Commission of Namibia, demanding to know why the national carrier's air services licence has been temporarily suspended.The...

Namibia receives 2.35 million...

19 hours ago | Economics

China has donated Covid-19 related supplies worth 40 million Namibian dollars (2.35 million US dollars) to Namibia to assist the country in fighting the virus,...

Time for Swapo to answer

19 hours ago | Opinion

Now more than ever, the ruling party Swapo has no excuse to maintain the deafening silence on allegations it has benefitted from the multi-million-dollar Fishrot...

Farmers rue lack of post-resettlement...

19 hours ago | Business

By Edward Mumbuu JnrSome resettlement beneficiaries have expressed discontent in governments post-resettlement support programme, which they suggest, derails the productivity and profitability of such farms.The...

San's existence under threat

19 hours ago | Environment

STAFF REPORTER WINDHOEK The San's environment is constantly under threat, and while they were once able to sustain themselves and their way of...

Pick n Pay assault twist

19 hours ago | Crime

ELLANIE SMITWINDHOEK The wife of a suspect, who can clearly be seen beating a Pick n Pay employee in a video that went viral this...

Load More