Public Investment Corporation said to be concerned by Sibanye offer

2019-05-17 12:16

The Public Investment Corporation, whose 30% stake in Lonmin is enough to block the miner’s planned takeover by Sibanye Gold, is concerned that the value of the all-share deal has been eroded, according to a person familiar with the matter.

Fedusa's Dennis George will soon know his fate

2019-05-11 12:45

The future of Dennis George, the suspended general secretary of the Federation of Unions of SA will be decided on May 16, following a two-day disciplinary hearing at the union federation’s Roodepoort headquarters that concluded on Friday.

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.

PIC said to be courting banker for CEO

2019-04-18 11:29

Africa’s largest fund manager is said to be considering financial services executive Kennedy Bungane to head the institution, according to people familiar with the matter.

R70m went to Survé-linked firms the day after AYO listed, PIC inquiry hears

2019-04-17 11:56

The former Chief Finance Officer at AYO Technology Solutions, Naahied Gamieldien, was testifying before the judicial commission of inquiry into the Public Investment Corporation.

Slow going at PIC inquiry as Holomisa and lawyer again square off

2019-04-15 20:55

"You are wasting your time – you are not going to get any concessions from me," the UDM leader replied to one question, as proceedings again moved forward at a snail's pace.

AYO denies financial filings were amended, vows to cooperate with JSE

2019-04-11 06:30

AYO Technology Solutions has denied its unaudited financials were amended, saying it is 'extremely perturbed' by allegations made by two former executives.

Iqbal Survé denies ordering AYO to tamper with financial filings

2019-04-10 13:38

The executive chair of Sekunjalo has denied an accusation by the former head of AYO Technology Solutions that he ordered the changing of AYO's interim financial results to make them seem more impressive.

Claims of billion rand deals for friends, death threats and whistleblowers - the PIC inquiry so far

2019-04-08 06:00

From death threats and allegations of wrongdoing in billion rand investments, to the search for an anonymous whistleblower and the suspension of top officials, this is what the commission of inquiry into the Public Investment Corporation has heard so far.

Gungubele not planning to respond to Survé's claims he wants to 'crush' Independent Media

2019-04-05 10:48

The deputy minister of finance is not intending to respond to allegations made by Independent Newspapers chairperson Iqbal Survé, who says ANC insiders told him Gungunbele had vowed to 'crush' the newspaper group for not 'toeing the line'.


PIC looking to limit funding of multiple companies linked to same owner

2019-05-15 22:19

The ongoing judicial commission of inquiry into the PIC has heard evidence of the same people repeatedly receiving funding from the state-run asset manager.

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.

AYO says staff that testify at PIC inquiry won't face repercussions

2019-04-17 19:29

AYO Technology Solutions says it is "utterly dismayed" by the implication that its employee Naahied Gamieldien may face internal company repercussions for testifying at the commission of inquiry into the Public Investment Corporation.

Our books are open for public scrutiny, Harith CEO tells PIC inquiry

2019-04-16 13:09

Tshepo Mahloele CEO of Harith General Partners, a company in which the PIC is invested, says that none of the fees the company earned went to Lebashe Investment Group, as alleged by UDM leader Bantu Holomisa.

PIC inquiry to continue hearing evidence on business ties to former executives

2019-04-15 07:00

UDM leader Bantu Holomisa has argued that former PIC executives have easy access to funding, saying this amounts to a conflict of interest.

Holomisa back in the hot seat at PIC inquiry

2019-04-10 19:35

The cross-examination of the UDM leader resulted in a number of testy exchanges between him and lawyer Daniel Berger, who accused Holomisa of defaming his clients.

Survé issued instruction to tamper with AYO interim financials - former executive

2019-04-09 06:00

The former CEO of AYO Technology Solutions has testified that Iqbal Survé, the head of investment holding company Sekunjalo, interfered in the running of the technology company and issued an order to tamper with a financial report.

What now? Five unanswered questions from Iqbal Survé's PIC inquiry testimony

2019-04-06 14:58

The head of investment holding company Sekunjalo used the opportunity to sing the praises of companies under the Sekunjalo umbrella, hit out at rival media houses, and criticise those he views as his adversaries. But his testimony raised as many questions as it answered.

7 highlights from Iqbal Survé's testimony at the PIC inquiry

2019-04-03 16:53

Iqbal Survé, the chairperson of Independent Media and the head of Sekunjalo, has concluded his testimony before the judicial commission of inquiry into the Public Investment Corporation.

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