PIC said to face Steinhoff probe

2018-12-10 19:48

South Africa is investigating a R9bn loan made by the PIC to a BEE partner of Steinhoff International, according to people familiar with the matter.

PIC pursuing those responsible for VBS fallout, awaiting Steinhoff outcomes

2018-12-07 12:26

The PIC has Scopa it is pursuing those responsible for VBS-related losses, and awaiting the outcome of a PwC forensic investigation into Steinhoff before making a decision.

PIC inquiry to go ahead despite Matjila resignation - Gungubele

2018-11-27 06:45

The departure of the Public Investment Corporation CEO Dan Matjila will not hinder the commission of inquiry tasked with probing allegations of maladministration into the institution, board chairman Mondli Gungubele has said.

Saftu calls for quick conclusion to PIC probes after Matjila's resignation

2018-11-24 13:59

The PIC released a statement in which it announced that it accepted Matjila’s resignation. Allegations of kickbacks at Matjila’s associates and governance transgressions have prompted National Treasury to initiate an investigation into the corporation.

PIC's ‘Dr Dan’ offers to resign - at end of April next year

2018-11-21 13:37

Dr Dan Matjila, the charismatic and controversial boss of the Public Investment Corporation, has offered to resign - but effective in five months only.

PIC wades into Tiso, Independent row - calls for ceasefire

2018-10-26 12:36

The Public Investment Corporation has for the first time weighed in on the ongoing spat between media companies Tiso Blackstar and Independent Media, dismissing recent claims that it had ever approached Tiso in terms of managing Independent.

Bull fight between Tiso Blackstar and Independent's Survé heats up over PIC claims

2018-10-24 20:23

Media group Tiso Blackstar has claimed that it was approached by the Public Investment Corporation (PIC) in 2016 for "help with Independent Media".

Holomisa: Matjila must be suspended for the sake of the PIC inquiry's credibility

2018-10-18 22:13

UDM leader Bantu Holomisa has called for the suspension of the PIC CEO Dan Matjila following a decision by President Cyril Ramaphosa to institute a commission of inquiry into the veracity of allegations of impropriety at the state-owned asset manager.

Nene to be investigated by Public Protector over PIC deal

2018-10-09 15:58

Finance Minister Nhlanhla Nene will be investigated by the Public Protector for allegedly breaching the executive code of ethics relating to an investment by the Public Investment Corporation in a company that may have benefitted his son.

Nene said to face pressure to quit over meetings with Guptas

2018-10-08 06:49

Factions within the ANC have been discussing potential replacements that they could suggest to President Cyril Ramaphosa, three senior party officials have said.


PIC says it will continue to invest in SOEs, but may reassess some details

2018-12-07 21:28

Africa's largest state-run asset manager has told Parliament’s that while it s in the process of reassessing its investments in state-owned entities, it would continue its invest in them because of its mandate.

GEPF's Mokate: Pension fund healthy despite Steinhoff, VBS 'elephants in the room'

2018-12-03 16:55

The Government Employee Pension Fund has impaired Lancaster 101, Steinhoff's BEE partner. The state pension fund is invested in Lancaster through the Public Investment Corporation. Other impairments included Independent News Media and Agri Poultry.

Matjila said to contest exit from PIC

2018-11-26 19:42

Daniel Matjila, outgoing head of the Public Investment Corporation, is contesting the circumstances surrounding his departure from Africa’s largest money manager, sources say.

PIC head Dan Matjila resigns, acting chair appointed

2018-11-23 20:07

The Public Investment Corporation has resolved to accept the resignation of its CEO Dan Matjila, it announced in a statement.

Karan Beef claims it never intentionally contravened Competition Act

2018-10-31 20:25

Karan Beef acknowledges that an agreement with I&J contravened the Competition Act, but claims it "never intentionally contravened the law".

PIC CEO Dan Matjila rejects 'unsubstantiated, malicious' claims

2018-10-25 15:39

Daniel Matjila, the chief executive officer of Public Investment Corp, has responded to a range of allegations made against him amid reports that he may face suspension.

PIC, Pelo set to buy majority stake in Karan Beef

2018-10-23 20:56

The PIC and Pelo Agricultural Ventures are buying a majority stake in Karan Beef, which operates Africa's largest cattle feedlot and abbatoir, for up to R5.2bn.

Mboweni still to meet with Ramaphosa over PIC probe

2018-10-17 06:15

MPs asked the new finance minister when the probe into the state asset manager would begin and when the terms of reference of such an investigation would be made public.

ANALYSIS: Who could replace Nene? Get to know Barbara Creecy and Mondli Gungubele

2018-10-08 10:19

With the likelihood of Finance Minister Nhlanhla Nene’s resignation growing by the hour, attention is now focused on who is likely to replace him should he quit.

Nene's involvement with son's business dealings questioned

2018-10-05 09:30

Finance Minister Nhlanhla Nene has been pulled into the orbit of a questionable investment by the PIC in Mozambique, after it emerged that a business partner of his son scored millions of rand in the deal.

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