Kunene Technology executive chairman Keith Kunene has stepped down amid an investigation into alleged bribery relating to the Central Energy Fund, from which he was forced to resign in December.
Kunene says in an advertisement published in newspapers today that he decided to resign from the boards of all the public and private companies on which he serves, including Kunene Brothers Holdings and Kunene Finance Company.
"My resignation from these boards will enable me, without prejudice to such boards, to focus my attention on defending my position," he says.
"My appointment with the Central Energy Fund was in my personal capacity and had nothing whatsoever to do with Kunene Brothers Holdings or any of their group or associate companies nor with any of the public companies on whose boards I served," he adds.
Kunene`s house was raided by the Scorpions investigating unit last week.
The allegations stem from a contract Kunene awarded to High Beam Trading. The contract involved a R2 billion deal to sell old South African oil reserves and replenish them with higher-grade oil.
A High Court application for a warrant to search his home alleges that Kunene received a $60 000 bribe to influence the deal.
The home of High Beam trading director Moses Moloele, who is alleged to have paid the bribe, was also raided last week.
Mineral and Energy Affairs Minister Phumzile Mlambo-Ngcuka forced Kunene and his entire board to resign from the Central Energy Fund over the allegations.
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