New State-owned petroleum company granted permission to begin operating

A new State-owned enterprise arising from a merger of three Central Energy Fund (CEF) subsidiaries – iGas, the Strategic Fuel Fund (SFF) and those divisions of PetroSA currently considered financially viable – has been granted approval to start operating and it will begin trading on April 1, 2025. The approval has been made in terms of Sections 51(g) and (h) of the Public Finance Management Act (PFMA) and was granted by the National Treasury as the custodian of the PFMA.