President Zuma has ordered the treasury to freeze assets linked to the Libyan leader.
|||President Jacob Zuma has ordered the treasury to freeze assets linked to Libyan leader Muammar Gaddafi and his associates.
The money is invested through the $5 billion (R34.7 billion) Libya Arab Africa Investment Co (Laaico), through Libya Oil Holdings, Libya African Investment Portfolio and Libyan Foreign Investment Company (Lafico).
In South Africa, it owns Ensemble Hotel holdings, including the luxury Michelangelo Hotel in Johannesburg.
Treasury officials were not immediately available for comment.
Libya holds billions of dollars in assets in Africa through subsidiaries its $70 billion (R485 billion) sovereign wealth fund.
The South African presidency said on Wednesday Gaddafi called Zuma “to explain his side of the story”.
It said: “South Africa has openly condemned the loss of life and attacks on civilians and reported violations of human rights in Libya.” - Reuters
Source: http://www.iol.co.za/zuma-orders-freeze-on-gaddafi-assets-1.1040020
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