South African businessman Lazarus Zim is facing a 7 million lawsuit tied to a Black Economic Empowerment BEE transaction involving Northam Platinum Holdings Ltd. According to court filings, former stockbroker Peter Wayne Roberts has lodged a claim at the Johannesburg High Court, seeking R123.7 million 7.04 million plus interest dating back to September 2021.
Roberts alleges broken BEE agreement
Roberts alleges Zim failed to honor an oral agreement connected to Northams 2014 BEE restructuring. Zim, who chaired Northam at the time, has denied the claims and plans to fight the case. His lawyers declined to comment, citing the ongoing litigation. Roberts maintains that he was promised a 20 percent stake in a company representing Zims interests while advising on a new self-funded BEE structure. That restructuring gave rise to Zambezi Platinum, which in 2014 acquired a 31.4 percent stake in Northam under a 10-year lock-in agreement.