PIC moves to discipline another executive

2018-09-16 07:02

Bongani Mathebula, the suspended company secretary of the embattled Public Investment Corporation, was summoned to a disciplinary hearing this week for allegedly leaking information.

Ayo execs quit as major deal hangs in limbo

2018-08-26 07:42

More than half the board of Ayo Technology Solutions resigned this week, including CEO Kevin Hardy and chief investment officer Siphiwe Nodwele.

Union heads to court to demand information about PIC decisions

2018-08-16 18:28

The Public Servants Association has filed a court application in a bid to force the release of information relating to the PIC board and the R5bn bridging loan granted to Eskom in February.

PIC looking to fast-track appointment of forensic investigator

2018-07-31 08:03

A forensic investigation into the Public Investment Corporation must be fair to its CEO Dan Matjila, says Deputy Finance Minister and PIC chair Mondli Gungubele.

PIC boss Dan Matjila scorns 'frivolous' UDM bid to have him suspended

2018-07-19 13:50

The head of the Public Investment Corporation has dismissed as baseless a court application by United Democratic Movement to have him suspended from his job over corruption allegations.

VBS 101 - from the masterminds to the mass fraud

2018-07-17 07:30

The case of VBS is complex and still unfolding. Here is a breakdown of what the bank was intended to be, the alleged fraud that occurred, and key figures said to be involved.

VBS Mutual Bank: Calls for former PIC directors to be declared delinquent

2018-07-15 13:07

The Federation of Unions of South Africa has called for two former PIC directors implicated in allegations surrounding VBS Mutual Bank to be declared delinquent.

How PIC men got paid

2018-07-15 06:00

From ‘loans’ and mortgages to ‘salaries’ and a shelf company, VBS board reps from Africa’s largest asset manager scored big.

VBS 'paid bribes to PIC, Prasa officials'

2018-07-08 06:00

The directors of VBS Mutual Bank and its majority owner, Vele Investments, stole more than R1.5bn from the bank’s depositors, claims an explosive affidavit.

PIC to exit investment in Independent Media

2018-07-04 19:23

The Public Investment Corporation (PIC) has begun the process of withdrawing its investment in Independent News and Media, Finance Minister Nhlanhla Nene has said.


Probe into PIC CEO Dan Matjila gets underway - Business Day

2018-09-11 09:55

An investigation into the conduct of Public Investment Corporation head Daniel Matjila has started with letters sent to staff seeking information, Business Day newspaper reported.

PIC board must be dissolved, urges PSA

2018-08-19 19:00

The Public Servants Association is calling for the appointment of a new Public Investment Corporation board, saying it should include labour representatives.

Ramaphosa appoints commission of inquiry to probe PIC

2018-08-16 14:51

President Cyril Ramaphosa has appointed a commission of inquiry into the alleged improprieties at state-owned fund manager the Public Investment Corporation.

PIC duo's shady payouts

2018-07-22 06:05

Public Investment Corporation executives Paul Magula and Ernest Nesane both allegedly received monthly payments from Vele Investments for over a year, totalling around R5m each.

Nene opposes bid to force him to suspend PIC CEO Matjila

2018-07-17 15:35

The finance minister is opposing the UDM's demand to immediately suspend the head of SA’s biggest money manager, as his department is already probing allegations of governance breaches at the PIC.

Court orders Holomisa to stop making PIC corruption claims

2018-07-16 17:30

A court has issued an order against UDM leader Bantu Holomisa preventing him from making further corruption allegations against firms he has accused of benefiting from what he deems to be dubious PIC funding.

Big funds fight fat-cat salaries

2018-07-15 06:09

There is little correlation between performance and pay ... the level of increases is one reason for the ever-increasing inequality.

PIC legal head quits following VBS testimony

2018-07-13 17:37

The Public Investment Corporation says its executive head for legal counsel, governance and compliance has resigned with immediate effect.

UDM: Treasury must explain where government pension billions went

2018-07-05 17:55

UDM leader Bantu Holomisa has asked Finance Minister Nhlanhla Nene to explain an allegedly improper relationship between the Public Investment Corporation and companies linked to its former employees - involving over R8bn of state employees' retirement funds.

PIC hits back at City Press, UDM

2018-07-04 18:42

The Public Investment Corporation has responded to allegations that it carried out its duties recklessly, slamming both media reports and the United Democratic Movement.

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