The events that have unfolded in the DA have shown that Zille has more influence than Maimane. He serves at her pleasure, writes Ralph Mathekga.
Showers early. Mostly sunny. Mild.
The former head of the PIC says he was removed from his job so politically connected people could influence the fund's investment decisions.
The Government Employees Pension Fund, managed by the PIC, holds R54.8bn of Eskom bonds, or 16.8% of all the debt outstanding, more than five times the next-biggest holder.
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.
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.
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.
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.
The Public Investment Corporation has responded to allegations that it carried out its duties recklessly, slamming both media reports and the United Democratic Movement.
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.
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.
The Public Servants Association wants the Government Employee Pension Fund to provide answers for the R5bn bailout for Eskom.
Naspers’s biggest shareholder is considering whether to reduce its R245bn stake in Africa’s biggest company because of concern it’s overexposed to a single stock, according to people with knowledge of the matter.
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.
The Government Employee Pension Fund currently has R50.6bn invested in unlisted domestic equities, compared to R970bn in listed equities.
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.
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 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.
The Public Investment Corporation has slammed a report that CoGTA Minister Zweli Mkhize earned R4.5m in kickbacks as “malicious” and “patently false”.
The CEO of the Public Investment Corporation was speaking to the media on the sidelines of a meeting in Parliament.
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.
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.
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