PIC has 'worthy candidate' to replace ex-CEO Dan Matjila

2020-03-27 14:47

The group's interim Chairperson, Reuel Khoza, says the asset manager is waiting on government approval before announcing the CEO's name.

Paul Mashatile: I welcome vindication by PIC report

2020-03-13 18:16

ANC treasurer-general Paul Mashatile has welcomed the release of a report from the commission of inquiry into the Public Investment Corporation, which cleared him of wrongdoing in a transaction between the asset manager and Karan Beef.

PIC report: Steinhoff deal reeks of 'collusion'

2020-03-12 17:29

Possible "collusion" between the Lancaster Group and former Public Investment Corporation CEO Dan Matjila was at the heart of a R9.4 billion deal involving the purchasing of shares in Steinhoff, the Lex Mpati Commission of Inquiry has found.

I resigned, why fire me, says ex-PIC executive fired over Ayo deal

2020-03-05 10:02

Fidelis Madavo, the former executive head of listed investments at the PIC whose employment contract was terminated for his role in the R4.3 billion Ayo Technologies transaction, says the company ignored his resignation and opted to axe him instead.

Govt pension fund: It would be wrong to dismiss Eskom bailout proposal without all the facts

2020-02-19 13:32

The Government Employees Pension Fund says it has still not been approached about a proposal to increase its exposure to Eskom debt.

PIC says it has not yet been consulted about plan to slash Eskom's debt

2020-02-13 12:53

'Every decision the PIC takes is based on the merits of each investment proposal,' says the state-run asset manager.

Ghaleb Cachalia: Cosatu’s PIC-Eskom bailout plan is outrageous

2020-02-08 08:00

The initiatives and context of Eskom's newly appointed CEO must be made public, and the validity of proposed future actions and sustainability of associated costs must be open to scrutiny, writes Ghaleb Cachalia.

Fundamentals of Eskom debt-reduction plan accepted by govt, business - Cosatu

2020-02-07 10:56

The utility has a debt burden of R450bn

PIC hits back at 'irrational' allegations, says CEO appointment process is above board

2020-01-20 19:39

The Public Investment Corporation's board has denied claims made in a report that it is flouting due processes in its search for a new CEO.

Union to Ramaphosa: Avoid leaks and immediately release PIC Commission report as 'Christmas present'

2019-12-21 07:15

The presidency says Ramaphosa is still studying the report.


PIC report: 7 changes the commission thinks will prevent further blunders

2020-03-14 07:30

The 955-page report, published on the Presidency's website, details how executives went to great lengths to conclude contentious deals, including intimidation of staff and misleading the board.

The biggest bombshells in the PIC report, which is absolutely scathing of Dan Matjila

2020-03-12 21:07

The long-awaited and newly released report into wrongdoing at the Public Investment Corporation, which manages civil servant pensions, details a litany of transgressions by its former CEO Dan Matjila.

PIC commission of inquiry report released, finds board was 'rubber stamp' for Matjila

2020-03-12 16:18

The long-awaited report of the Mpati Commission of inquiry into the PIC has been released.

Govt pension fund awaiting PIC report on R586m land purchase

2020-02-19 19:10

The Government Employees Pension Fund has requested a report from the PIC on a decision to purchase undeveloped farmland valued at R586m.

How Survé 'robs Peter to pay Paul': Money scored from PIC 'used to keep Independent afloat'

2020-02-18 06:01

Iqbal Survé's embattled businesses have quietly redirected money scored from the PIC to apparently pay Independent newspapers' staff.

Adriaan Basson: Ramaphosa dare not raid the pensions of teachers and nurses to save Eskom

2020-02-10 05:51

Here’s the rider in the plan Ramaphosa will have to explain to the nation if he pushes it through: no Eskom employee may be retrenched. Eskom has 46 000 employees and an annual salary bill of R30bn, writes Adriaan Basson.

Financiers won't be destroyed while trying to save Eskom, vows business body

2020-02-07 16:14

BUSA vice president, Martin Kingston, has said while the business body is party to a principle agreement to mobilise private and public savings to assist Eskom financially, funders should not be exposed to excessive risk in the process.

PIC increases stake in Nampak to 20.5%

2020-01-24 16:32

The PIC which invest on behalf of government employees pension funds has increased its stake in Nampak to 20.54%

Businessman and scientist Xolani Mkhwanazi has died

2020-01-06 10:44

Mkhwanazi was appointed last year to assist with the turnaround of the embattled EOH, and also served on the board of the PIC and South32.

PIC Commission meets deadline to submit final report to Ramaphosa

2019-12-18 15:30

Ramaphosa appointed the commission in October 2018 to investigate allegations of irregularities at the state-run asset manager.

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