African press review 5 April 2016

City Press, South Africa

President Jacob Zuma’s nephew Khulubuse Zuma is implicated in the files leaked law firm Mossack Fonseca in Panama.

Khulubuse allegedly stashed away money in the British Virgin Islands in 2010, after being given two oil fields in the Democratic Republic of Congo. The oil deal was reportedly worth five billion euros, a few months after a state visit by President Zuma to DRC president Joseph Kabila.

Mail and Guardian, South Africa

Khulubuse is named in the files as authorised to represent Caprikat Limited, one of the two offshore companies involved in the oil deal.

The files also show that in late summer of 2010, British Virgin Islands authorities ordered Mossack Fonseca to provide background information on the younger Zuma.

President Jacob Zuma’s office has to date not responded to requests but he might have more on his plate to answer for this week.

The Panama papers also reveals the secret offshore companies linked to the families and associates of Egypt’s former president Hosni Mubarak, former Libyan leader Muammar Gadaffi and Syrian president Bashar al-Assad.


Premium Times

There are reports that the Senate President, Bukola Saraki’s family and a former governor of Delta State, James Ibori, were among prominent Africans named as owners of secret offshore assets in the Panama Papers.

The Premium Times reports that the Panama Papers have landed Senate President Saraki in a new controversy over his assets.

It cites the Panama files as showing that Mrs Saraki “owns 25,000 shares with a value of 1,000 dollars each”  and was appointed the first and only director of the company.

Girol Properties, the report claimed, was registered on behalf of Toyin by Fonsecca on August 25, 2004, in the British Virgin Island, a year after her husband, Bukola, became the governor of Kwara State.

The Herald, Zimbabwe

Finally, banks have introduced stringent cash management  limiting maximum cash withdrawls to 500 dolars per transaction as the liquidity crisis hits the country.

According to the paper, while some bank officials have tried to put a lid on the matter, snap market surveys in and around Harare showed that even the Zimswift facility had been disabled.

Source: rfi afrique