Senior staff members at PIC’s Isibaya Fund accuse execs of “existential crisis”
Employees at a unit of the Public Investment Corporation have accused executives at the fund manager of causing an “existential crisis”, says Bloomberg.
Public Investment Corp.
Flash Briefing: Ace runs out of luck as CR cracks his whip; PIC weighs in on gold mines’ merger; FDI up; SA bonuses up
ANC Secretary-General Ace Magashule has been given 30 days to step aside from his role or face suspension and disciplinary action by the party.
GEPF targeted for looting to save debt-riddled Eskom
The PIC is not in control of the assets of the GEPF and cannot loot the fund to save Eskom, says AMAGP in response to a newspaper report.
Abel Sithole appointed PIC CEO
Public Investment Corporation appointed Abel Sithole as its chief executive officer, filling a position that’s been vacant since his predecessor was removed 18 months ago over accusations of questionable investment decisions.
Angry pensioners demand that PIC asset managers pay back out of their own pockets! #Mpati
The Commission of Inquiry into the affairs of the PIC has been released. Certain individuals were fingered and AMAGP demands justice.
“PIC board essentially rubber stamped CEO Dan Matjila decisions” plus more in 995 page report
A South African judicial inquiry into alleged impropriety at Africa’s biggest fund manager implicated a number of individuals in wrongdoing.
Pensions rescue plan for Eskom faces huge legal headwinds
Under the Cosatu’s so-called social compact, Eskom’s R454bn of debt will be cut to R200bn, with the balance transferred to a specially created entity.
Perjury the least of Survé’s misfortunes – Ed Herbst
By the end of this week, the Mpati Commission must hand its report on malfeasance at the Public Investment Corporation to President Cyril Ramaphosa.
PIC seeks Sekunjalo liquidation due to failed loan repayments
The PIC has, on behalf of the Government Employee Pension Fund, filed liquidation proceedings against Sekunjalo Independent Media.
PIC dismissal Ayo-linked; VW Uitenhage off-grid; SA business ease slips; Tesla; Clicks; Harvard
The Public Investment Corporation has dismissed a portfolio manager linked to the R4.3bn investment in Ayo Technology Solutions.