Businessman takes PIC to task over loan fees

2019-05-22 16:13

A legal tussle has erupted between an empowerment consortium and the PIC over the payment of a R45m transaction origination fee for a housing fund with SA Home Loans.

Government pension fund should invest more in unlisted assets, says head

2019-04-25 17:04

The Government Employee Pension Fund currently has R50.6bn invested in unlisted domestic equities, compared to R970bn in listed equities.

IDC chair refuses to answer Eskom questions at BRICS bank meeting

2019-04-03 06:02

Despite repeatedly being asked about what, in her view, the future holds for the power utility, Busi Mabuza, chair of the IDC, said she would talk about "anything but Eskom" during a BRICS Bank panel discussion.

Government working on reforms to lift economic growth, Nene assures

2018-09-10 22:46

Introducing economic reforms could add two to three percentage points to real GDP growth over the next 10 years, says Finance Minister Nhlanhla Nene.

UDM: Treasury must explain where government pension billions went

2018-07-05 17:55

UDM leader Bantu Holomisa has asked Finance Minister Nhlanhla Nene to explain an allegedly improper relationship between the Public Investment Corporation and companies linked to its former employees - involving over R8bn of state employees' retirement funds.

Mkhize's R4.5m kickback allegations ‘malicious’- PIC

2018-06-11 20:02

The Public Investment Corporation has slammed a report that CoGTA Minister Zweli Mkhize earned R4.5m in kickbacks as “malicious” and “patently false”.

Matjila: I don't know where 'rumours' of suspension are coming from

2018-05-31 16:20

The CEO of the Public Investment Corporation was speaking to the media on the sidelines of a meeting in Parliament.

R5bn Eskom loan is smart investment, argues PIC

2018-02-12 16:05

The Public Investment Corporation, in a letter to a parliamentary committee, has argued that its recent R5bn loan to Eskom will be paid back with an above-market interest rate.

Govt pension fund wants seat at the Steinhoff table in future

2017-12-13 18:19

SA's government employees pension fund and its asset manager the Public Investment Corporation will insist on appointing two independent directors to Steinhoff’s board following its dramatic share price collapse.

Steinhoff fallout: Fedusa, PIC to discuss pension damage control

2017-12-11 12:22

Union Fedusa is to meet the Public Investment Corporation over the Steinhoff meltdown to find ways of salvaging workers' pensions managed by the PIC.

 

Survé barking up the wrong tree with questions about AYO, says govt pension fund boss

2019-04-25 18:16

The GEPF had no reason to update Sekunjalo executive chair Iqbal Survé about the way in which the PIC handled its investment in AYO, head of the fund Abel Sithole told Fin24.

Everything is A-ok at SA government's largest pension fund, says head

2019-04-25 13:59

The head of South Africa's largest state pension fund, Abel Sithole, has said the fund remains financially sound and employers would not need to increase contributions, despite concerns raised by Alexander Forbes Financial Services in a valuation.

R5bn in impairments not about lack of due diligence, says government pension fund

2018-12-05 18:56

The GEPF, which has registered impairments of over R5bn in its investments in Steinhoff’s empowerment partner Lancaster 101 and Independent News and Media SA, says it has no reason to believe it did not conduct proper analysis.

Union heads to court to demand information about PIC decisions

2018-08-16 18:28

The Public Servants Association has filed a court application in a bid to force the release of information relating to the PIC board and the R5bn bridging loan granted to Eskom in February.

PIC hits back at City Press, UDM

2018-07-04 18:42

The Public Investment Corporation has responded to allegations that it carried out its duties recklessly, slamming both media reports and the United Democratic Movement.

Matjila hits out at media for singling out the PIC's questionable deals

2018-06-05 20:01

PIC CEO Dan Matjila has said the state investment manager's portfolio is outperforming benchmarks, and that it is unfair of the media to single out certain transactions.

Nene did not reject PIC transparency amendments, committee told

2018-04-25 05:15

The contention is around the extent to which compulsory disclosure PIC’s listed and unlisted investments that the Democratic Alliance deems non-negotiable may affect the developmental mandate the African National Congress believes the corporation should fulfill.

GEPF must answer for Eskom's R5bn bailout - PSA

2018-02-10 07:00

The Public Servants Association wants the Government Employee Pension Fund to provide answers for the R5bn bailout for Eskom.

GEPF protected, but JSE must take action against Steinhoff - Fedusa

2017-12-11 17:50

Trade union federation Fedusa has met with the PIC to survey the damage of the Steinhoff fallout on government employee pensions.

PSA threatens court action against Gigaba to settle its demands

2017-11-28 19:42

The Public Servants Association says that if Finance Minister Malusi Gigaba does not agree to its demands to have better representation on the Public Investment Corporation’s board, it will settle the matter through the courts.

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