Analysis: Iqbal Survé's AYO's last stand

2019-08-15 07:15

Technology firm warns of its “imminent demise” if the PIC’s R4.3-billion claim succeeds – but finds it hard to answer some allegations.

PIC inquiry: Lifestyle audit finds no criminal conduct by ex-head Dan Matjila

2019-08-13 12:12

A lifestyle audit conducted by PwC into five former officials at state-owned asset manager the Public Investment Corporation - including its ex-CEO Dan Matjila and former board chair Mondli Gungubele - found no evidence of criminal conduct.

Executives abandon state companies over indecision

2019-08-05 08:52

Top South African business leaders called upon to help save ailing state-owned companies are abandoning their posts, frustrated by indecision and political interference.

Tosaco, the deal that could sink ex-PIC CEO Dan Matjila

2019-07-26 06:55

The state-run asset manager's R1.8bn loan to fund empowerment stakes in oil company Total was a good investment. So why does this deal keep coming back to bite former PIC boss Dan Matjila?

New PIC board chairperson elected - and it's not Deputy Finance Minister

2019-07-25 13:23

Finance Minister Tito Mboweni has instructed the new PIC interim board to focus on corporate governance, while he focuses on politics.

Matjila: There will always be bad investments

2019-07-22 15:33

In his eighth appearance before the PIC commissioner of inquiry, former CEO of the continent's largest asset manager Dan Matjila unpacked details of some of its failed investments.

Matjila: I take ministers' calls, nothing 'improper' about meeting with them

2019-07-16 16:06

Former PIC CEO Dan Matjila told the commission of inquiry that he did not find anything unethical about meeting with Cabinet ministers during his tenure.

UPDATE: Complete list of new PIC board

2019-07-11 16:39

National Treasury has reissued a statement on the PIC board appointments, as the previous statement had erroneously left out the name of one of the board members.

Eskom gets rescue option as PIC proposes debt-equity swap

2019-07-11 13:55

A proposal by the biggest owner of Eskom's debt to convert its R90bn holding into equity has become a rescue option as South Africa seeks to restructure the troubled power utility.

Matjila: I was removed because I did not agree to save Edcon

2019-07-10 21:38

Ex-PIC head Dan Matjila has said part of the reason he was removed was so that a deal to save Edcon could be finalised before the national elections.


Steinhoff corporate fraud beyond what anyone envisaged, inquiry hears

2019-08-14 14:43

The PIC commission heard from its last witness, co-founder of Lancaster Group Jayendra Naidoo on Wednesday. Lancaster received a loan from the PIC to make an investment into Steinhoff.

Ex-PIC head says he would have called extraordinary GM to 'remedy' R4.3bn AYO investment

2019-08-12 17:45

Dan Matjila has testified that he would have called an extraordinary general meeting to "remedy" problems at JSE-listed IT group AYO Technology Solutions if he were still head of the PIC.

PIC inquiry to resume on Tuesday after protests force halt

2019-07-29 12:01

The cancellation comes after President Cyril Ramaphosa granted the commission its second extension, allowing the inquiry to compile and submit its final report at the end of October instead of the end of July.

Veteran businessman Reuel Khoza takes the helm at PIC

2019-07-25 14:43

The new interim chairperson of the state asset manager boasts a long track record in the private and public sectors, including stints as the chairperson of the Nedbank Group and Eskom.

Matjila: Allegations against me too 'malicious' to be from a whistleblower

2019-07-22 20:36

Former CEO of the PIC, Dan Matjila, has responded to allegations of his "reign of terror" at the asset manager.

No one could detect Steinhoff irregularities – Matjila

2019-07-16 18:24

Former PIC CEO Dan Matjila said the asset manager was concerned with governance at Steinhoff, but no prudent investor would be able to pick up irregularities at the retail group.

Workers finally represented on PIC board – unions

2019-07-11 20:53

Cosatu has welcomed the inclusion of labour representatives on the PIC interim board - a first in its 108-year existence.

Ferial Haffajee: Newly-minted PIC board and billions in investment! Hello economic reform

2019-07-11 15:51

It has been a good week for economic reform in South Africa after a period of bleak news, writes Ferial Haffajee.

EFF rejects Maria Ramos appointment to PIC board

2019-07-11 10:35

The EFF have rejected the appointment of former Absa CEO to the PIC interim board, claiming she won’t be able to defend the interests of public servants.

Mboweni announces PIC interim board - including Maria Ramos

2019-07-10 17:05

In a statement on Wednesday, Minister of Finance Tito Mboweni announced an interim board of directors at the Public Investment Corporation, which includes former Absa boss Maria Ramos.

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