Imvume

Last updated

Imvume Holdings is a South African oil company. It shot to fame in 2005 as a result of its involvement in what the South African press has dubbed the Oilgate scandal. [1]

In 2004, the investigation South African newspaper Mail & Guardian revealed Imvume's implication in the United Nations Oil-for-Food scandal. [2] Imvume was named as one of the companies that paid kickbacks to Iraq in exchange for a contract under the oil for food program. Imvume has since taken legal action against the Independent Inquiry Committee, the UN body that made the accusations. The court case is ongoing.

See also

Related Research Articles

African National Congress Political party in South Africa

The African National Congress (ANC) is a social-democratic political party in South Africa. It has been in power since the election of lawyer, activist and former political prisoner Nelson Mandela at the first free and fair elections in 1994, and has been re-elected at every election since, though with a reduced majority every time since 2004. Cyril Ramaphosa, the incumbent President of South Africa, has served as President of the ANC since 18 December 2017.

KFC American fast food restaurant chain

KFC is an American fast food restaurant chain headquartered in Louisville, Kentucky that specializes in fried chicken. It is the world's second-largest restaurant chain after McDonald's, with 22,621 locations globally in 150 countries as of December 2019. The chain is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut, Taco Bell and WingStreet chains.

Oil-for-Food Programme Programme headed by the United Nations

The Oil-for-Food Programme (OIP), established by the United Nations in 1995 was established to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary Iraqi citizens without allowing Iraq to boost its military capabilities.

Unilever British multinational consumer goods company

Unilever PLC is a British multinational consumer goods company headquartered in London, England. Unilever products include food, condiments, ice cream, wellbeing vitamins, minerals and supplements, tea, coffee, breakfast cereal, cleaning agents, water and air purifiers, pet food, toothpaste, beauty products, and personal care. Unilever is the largest producer of soap in the world. Unilever's products are available in around 190 countries.

FTSE 100 Index Share index of the London Stock Exchange

The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.

Jacob Zuma 4th President of South Africa (2009–2018)

Jacob Gedleyihlekisa Zuma is a South African politician who was the fourth president of South Africa from 2009 to 2018. He is also referred to by his initials JZ and his clan name Msholozi. A former anti-apartheid activist and member of Umkhonto we Sizwe, he was president of the African National Congress (ANC) between 2007 and 2017.

Tokyo Sexwale

Mosima Gabriel "Tokyo" Sexwale is a South African businessman, politician, anti-apartheid activist, and former political prisoner. Sexwale was imprisoned on Robben Island for his anti-apartheid activities, alongside figures such as Nelson Mandela. After the 1994 general election—the first fully democratic election in South Africa—Sexwale became the Premier of Gauteng Province. He served in the government of South Africa as Minister of Human Settlements from 2009 to 2013.

Kojo Annan Ghanaian-Nigerian businessman

Kojo Adeyemo Annan is a Ghanaian-Nigerian businessman and son of the late former UN Secretary-General Kofi Annan.

<i>Mail & Guardian</i> South African newspaper

The Mail & Guardian is a South African weekly newspaper and website, published by M&G Media in Johannesburg, South Africa. It focuses on political analysis, investigative reporting, Southern African news, local arts, music and popular culture.

Mass media in South Africa

The mass media in South Africa has a large mass media sector and is one of Africa's major media centres. While South Africa's many broadcasters and publications reflect the diversity of the population as a whole, the most commonly used language is English. However, all ten other official languages are represented to some extent or another. Afrikaans is the second most commonly used language, especially in the publishing sector.

Tongsun Park is a former South Korean lobbyist. He was involved in two political money-related scandals: Koreagate scandal in the 1970s, and the Oil-for-Food Program scandal of the 2000s. Park had a reputation as the "Asian Great Gatsby".

Phumzile Mlambo-Ngcuka

Phumzile Mlambo-Ngcuka is a South African politician and former United Nations official, who served as the Executive Director of UN Women with the rank of Under-Secretary-General of the United Nations.

Oilgate is a South African political scandal in which the petrol company Imvume Holdings was accused of paying R11 millions of state money to the ruling African National Congress shortly before the 2004 General Election. The money had been received from the state oil company, PetroSA, as part of an advance payment for a quantity of oil condensate that had been procured from Glencore, an international company.

Woolworths Holdings Limited South African retail company

Woolworths Holdings Limited is a South African multinational retail company that owns the South African retail chain Woolworths, and Australian retailers David Jones and Country Road Group. Woolworths, however, has no association to Australia's Woolworths supermarket chain.

Kgalema Motlanthe 3rd President of South Africa

Kgalema Petrus Motlanthe is a South African politician who was South Africa's third president between 25 September 2008 and 9 May 2009, following the resignation of Thabo Mbeki. Thereafter, he was deputy president under Jacob Zuma from 9 May 2009 to 26 May 2014.

Trafigura Multinational commodity trading company

Trafigura Group Pte. Ltd. is a Singapore-based multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.

South African Arms Deal

The Strategic Defence Package, popularly known as the Arms Deal, was a major defence procurement programme undertaken to re-equip the South African armed forces for the post-apartheid era. It is commonly associated with the large-scale corruption that is alleged to have taken place during and after the procurement process. Some critics have said that the Arms Deal was a defining moment or turning point for the African National Congress (ANC) government, less than five years into its tenure.

Wilmar International Limited is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia's leading agribusiness groups alongside the COFCO Group. It ranks amongst the largest listed companies by market capitalisation on the Singapore Exchange (SGX), being the second largest as of September 2010. It was ranked 211th in the Fortune Global 500 list in 2020. It was ranked 3rd in the World's Most Admired Company by Fortune in 2019.

KFC is the largest fast food chain in South Africa.

Penuell Mpapa Maduna is a South African politician and businessman. An anti-apartheid activist in his youth, Maduna was appointed to President Nelson Mandela's government in 1994. Thereafter he served as Minister of Mineral and Energy Affairs and, between 1999 and 2004, as Minister of Justice and Constitutional Development. Holding a doctorate of law from Unisa, he was also a long-time legal adviser to his party, the African National Congress, which he represented during the negotiations to end apartheid.

References

  1. "Oilgate: Anatomy of a whitewash". Mail & Guardian. 5 August 2005. Retrieved 25 May 2010.
  2. "How the ANC fell for Saddam's oil". Mail & Guardian. 6 February 2004. Retrieved 18 February 2021.