Fin24 reports that the Central Energy Fund (CEF), which is responsible for overseeing PetroSA and the Strategic Fuel Fund, will pay more than R41m in bonuses to its executives in the 2015/16 financial year.  

In a written communication to Parliament, the CEF said that besides the R41.995m bonus provision in the current financial year, the fund also paid bonuses in excess of R193m in the 2014/15 financial year.  The present bonus provision takes place in a financial year in which PetroSA made a loss of R14.5bn.  The CEF came under heavy criticism from MPs on Tuesday for the state of affairs at its subsidiaries, especially PetroSA and the Strategic Fuel Fund.

• Read this report by Liesl Peyper in full at Fin24

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