Khulubuse Zuma, the nephew of President Jacob Zuma, can presumably afford to lose a few million rand on Aurora Empowerment Systems after allegedly making tens of millions from oil concessions in the Democratic Republic of Congo.
The younger Zuma, whose ostentatious lifestyle involves numerous luxury cars, several wives and a taste for expensive whisky and cigars, claimed to own — and was certainly a signatory for — two British Virgin Isles-registered companies, Foxwhelp and Caprikat, which secured oil rights in the DRC in June 2010 that were taken away from Tullow Oil.
It was claimed US$6m was paid for them.
By September 2010, these concessions were reported to have been sold, but Zuma’s lawyer, Michael Hulley, said they had been assigned to an entity controlled jointly by Foxwhelp/Caprikat and the DRC government, and the partners intended to develop them.
Foxwhelp and Caprikat were named in the Panama Papers, in connection with a wider US investigation into possible bribery committed by US hedge fund Och-Ziff Capital Management in its African investments.
The Panama Papers are confidential documents belonging to Panamanian law firm Mossack Fonseca that were leaked to the media earlier this year and shed light on people using tax havens for their investments. According to the Panama Papers, Och-Ziff financed the development of the oilfields previously awarded to Foxwhelp and Caprikat, which are described as 100% controlled by Dan Gertler.
Zondwa Gaddafi Mandela, Nelson Mandela’s grandson, did not have much of a public profile until he emerged as MD of Aurora.
Two years after Aurora was liquidated, Investec repossessed his luxury black Mercedes-Benz, on which he owed about half a million rand. In 2012 he started another business venture, registering a company called Mandela 95th Birthday to corporatise the celebration of Nelson Mandela’s birthdays. Nothing further has been heard about this company.