South African officials are investigating claims that ex-Libyan leader Moammar Gadhafi and his family stashed more than $1 billion in diamonds, gold and cash in the country.
The Finance Minister's office said a group claiming to represent the Libyan government has asked the South African government for help in tracking the assets.
The statement confirms a report in South Africa's Sunday Times newspaper that Libyan officials met with senior officials, including President Jacob Zuma, to discuss locating and recovering the assets.
The report said Gadhafi's assets are held by four banks and two security companies in South Africa.
Gadhafi was captured and killed as he tried to flee his hometown of Sirte during Libya's political uprising in October 2011.