Ayo bringing down PIC house; key officials suspended
The Public Investment Corporation has suspended two employees after an investigation into a transaction with Ayo Technology Solutions.
The Public Investment Corporation has suspended two employees after an investigation into a transaction with Ayo Technology Solutions.
The Public Investment Corporation together with the Government Employees Pension Fund have been under the spotlight this week amid revelations that they have effectively written off loans of R7.4bn to a Steinhoff connected entity and Sekunjalo.
Public Investment Corporation CEOÂ Dan Matjila has penned an open letter in which he addresses several serious allegations against him.
The Public Investment Corporation made an equity investment of $100 million to acquire Class B shares in the African Export-Import Bank.
It has been brought to our attention that Treasury may once again seriously be considering the possibility of increasing capital gains tax as one possible source of increasing its revenue.
Political uncertainty and its twin, instability, are currently South Africa’s public enemy number one. And the consequential impacts are largely economic.
As political and economic uncertainty seem to be rushing full-steam ahead, South Africans are naturally concerned whether their investments are heading for a train smash.
South African Finance Minister Malusi Gigaba said he won’t ask Africa’s biggest money manager to provide funds to bail out state-owned companies.
South Africa’s Treasury is pressuring the continent’s biggest money manager to provide as much as $7.6 billion to fund struggling state companies.
Barclays is increasing the size of the stake it’s selling in its South African unit to raise about $2.9 billion, as part of a plan to shrink operations and bolster capital.