Sasol Says Nkosi Quit as Chair Over Link to Kinetiko Investment
- Kinetiko seen as potential gas supplier to Secunda operation
- Nkosi is chairman of investment holding company Talent10
The Sasol Ltd. Sasol One liquid fuels facility in Sasolburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Sipho Nkosi resigned as Sasol Ltd. chairman to avoid the perception of a conflict of interest arising from an investment in an Australian gas explorer that could potentially supply the fuel and chemical manufacturer’s South African hub.
Nkosi stepped down on Nov. 10 because “he was concerned that some of his business interests may be perceived to place him in conflict with the interests of Sasol,” even though he was confident of meeting compliance, the company said in a statement Monday.