The article discusses serious allegations against South African investor Errol Gregor, who is being investigated for possible bribery linked to a R855 million fraud in Ghana. Gregor, formerly associated with Mining Oil and Gas Services, is now involved in a pipeline project in Zimbabwe. The Hawks are investigating the financial connections between South Africa and alleged corrupt practices in Ghana, highlighting the need for enhanced oversight and accountability in international business transactions.
A South African investor has come under scrutiny regarding allegations of bribery in Ghana, as highlighted by The Sentry, an American investigative organization. Errol Gregor, the principal figure associated with Coven Energy, was previously the head of Mining Oil and Gas Services (MOGS), which is entangled in a R855 million fraud scandal. The allegations assert that MOGS made payments totaling R324 million to a Ghanaian intermediary, Edwin Obiri, who subsequently funneled these funds to officials to aid MOGS in acquiring control over a lucrative offshore oil platform near Accra. In light of these serious allegations, the Hawks, South Africa’s Directorate for Priority Crime Investigation, are currently probing financial transactions that allegedly link South Africa to corrupt practices in Ghana. As the investigation unfolds, the implications extend to a new pipeline project intended to connect Mozambique to Zimbabwe, with Gregor now involved. There are indications that the pipeline initiative, valued at R16 million and operating alongside Zimbabwe’s National Oil Infrastructure Company, may be overshadowed by the prior corruption claims. Gregor’s actions have raised significant concerns, particularly regarding the possible influence of South African pension funds and British banks that may inadvertently support corrupt schemes. His departure from Royal Bafokeng Holdings to establish Coven Energy in 2020 has not alleviated scrutiny. Moreover, Nick Donovan, a senior investigator at The Sentry, has emphasized the vital need for heightened transparency and oversight in international business engagements, particularly in regions susceptible to corruption.
The accusations against Errol Gregor detail a complex web of financial misconduct tied to the operations of Mining Oil and Gas Services (MOGS) in Ghana. The firm was implicated in a significant bribery case involving substantial sums that were allegedly used to sway political decisions in favor of the company’s interests. As Gregor transitions to new projects, such as a pipeline development in Zimbabwe, these past allegations cast a long shadow, raising concerns about governance and ethical business practices in such transactions. The investigation by the Hawks underscores the critical role of law enforcement in addressing cross-border corruption, reflecting the interconnected nature of global finance and governance.
The ongoing investigation into Errol Gregor and his past associations with Mining Oil and Gas Services (MOGS) highlights pressing concerns regarding corruption in international business dealings. The allegations, which include substantial bribery to secure oil rights in Ghana, exemplify the risks involved when financial interests cross borders without adequate transparency. As the Hawks continue their investigation, stakeholders in Gregor’s new pipeline project in Zimbabwe are urged to exercise due diligence to prevent potential misconduct from resurfacing.
Original Source: www.news24.com
