Trinity Energy Limited has denied claims in a Sentry report that it was favored to benefit from millions of dollars in 2018 from a trade finance facility with Cairo-based African Export-Import Bank (Afreximbank).
Trinity Energy Limited’s statement on Wednesday follows a release of a Sentry report, “Crude Dealings: How Oil-Backed Loans Raise Red Flags for Illegal Activity in South Sudan.”
The Sentry report alleges that Trinity Energy Limited was favored in a loan agreement of a series of $30 million to purchase diesel and gasoline to sell to the South Sudan’s market.
It further alleges that the government of South Sudan committed to award cargoes of crude oil to Trinity Energy without following proper legislation on oversight, transparency, and competition and facilitated off-book government spending.
“Our attention has been drawn to the above report by The Sentry which unfortunately contains significant and defamatory allegations against our organization relating to activities from over four years ago,” reads part of a statement by Trinity Energy Limited that Juba Echo has seen.
The Sentry report says “the loans deal” offered Trinity Energy Limited a dominant role in the market for petroleum and diesel imports, a position that facilitated its secretive provision of fuel to the South Sudanese army.
Trinity Energy Limited says it’s in consultations with legal experts and will decide on the next cause of action regarding the report.
“As a proud signatory of the United Nations Global Compact, we subscribe to the Ten Principles on human rights, labor, environment, and anti-corruption and remain dedicated to maintaining the trust of our customers, stakeholders, and the communities we serve,” Trinity Energy said.
It further says; it is committed to the future of South Sudan and is helping to build structures for the economic and social stability of the country through an efficient and affordable supply of fuel.
“As a forward-looking company, we are driven by the need for the social-economic transformation of South Sudan which has seen us invest millions of dollars and create lasting jobs in various sectors as well as support Youth and Women Empowerment, Agriculture and Food Security, Health and Environmental Sustainability,” it said.