Capitec, Nedbank, PIC on shortlist to buy Mercantile Bank

2018-06-18 10:53

Capitec, Nedbank and the Pubic Investment Corporation are on the shortlist of four potential buyers to participate in the second phase of the sale process of Mercantile Bank.

Glencore, black owners said to be sole partners in Chevron deal

2018-06-06 13:36

Glencore and a black-investor group are reportedly the only partners in a potential $1bn deal to buy Chevron’s southern African assets.

Hellish week for PIC's Dan Matjila

2018-06-03 06:07

Public Investment Corporation CEO Dan Matjila is likely facing a week from hell with the United Democratic Movement headed to court to force his suspension and Parliament gazetting a bill that decentralises his power.

amaBhungane proposal for full disclosure of PIC investments not feasible, say MPs

2018-05-31 19:45

A “radical” proposal for the disclosure of minutes of meetings relating to investment decisions taken by the Public Investment Corporation to strengthen transparency has not been well received by MPs.

PIC CEO Dan Matjila said to face suspension

2018-05-31 07:36

PIC CEO Dan Matjila will probably be suspended while his role in several questionable investments by Africa’s biggest money manager is investigated, according to three people with knowledge of the matter.

PIC to probe Ayo purchase process

2018-05-29 16:23

The Public Investment Corporation is looking into how Africa’s biggest money manager decided to spend R4.3bn to back the initial public offering of Ayo Technology Solutions.

SAPS called for PIC corruption evidence

2018-05-13 06:00

Deputy Finance Minister Mondli Gungubele has been subpoenaed to provide evidence in a case of corruption against the leadership of the Public Investment Corporation (PIC).

PIC executives purged as more deals questioned

2018-04-29 06:00

The Public Investment Corporation (PIC) has fired its executive head of risk for “incompetence” and suspended other senior officials, seemingly in relation to media leaks and allegations against CEO Dan Matjila.

Union meets with state asset manager the PIC about its investments

2018-04-23 14:19

Public sector union the PSA is meeting with the Public Investment Corporation on behalf of its more than 230 000 members to demand details of several controversial investments made in recent years.

PIC acquires power plant

2018-04-13 16:58

The Competition Tribunal has approved a transaction that allows the Public Investment Corporation to acquire control of a solar energy supplier.

 

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 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.

PIC bill will curb CEO’s power

2018-06-03 06:07

The Public Investment Corporation Amendment Bill may make the chief executive position, currently occupied by Dan Matjila, less influential by decentralising its powers – and hopefully attract investors.

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.

New amendments to ensure transparency of PIC investments

2018-05-29 21:58

National Assembly has passed a legislative proposal for amendments to the Public Investment Corporation Act to promote transparency and good governance at the investment manager.

UDM ultimatum to Nene: Suspend PIC CEO Dan Matjila or else

2018-05-29 12:51

The United Democratic Movement has given Finance Minister Nhlanhla Nene until Thursday to suspend Public Investment Corporation CEO Dr Dan Matjila, pending an investigation, or face legal action.

Steinhoff legal woes mount as share price slides

2018-05-11 19:32

The Public Servants Association is finalising a court application to declare some of Steinhoff’s current and past directors as delinquent for allegedly contravening the Companies Act.

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.

Survé tried to score PIC billions

2018-04-15 06:00

The investment by state pensions would have bought the tycoon a second multibillion-rand long shot.

Vele Investments on board with VBS Bank curatorship

2018-03-17 11:00

One of VBS Mutual Bank’s major shareholders, Vele Investments, has dropped its legal challenge against the mutual bank’s curatorship.

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