In the absence of a credible opposition party to challenge the ANC, perhaps the IMF is best placed to help the party, writes Ayabulela Dlakavu.
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.
The hearings were cut short to give the commissioners enough time to read through the affidavits and annexures of ex-PIC head Dan Matjila, which were submitted late.
Accounting adjustments were made to reflect higher profits in AYO Technology Solutions' interim financial statements, the PIC commission of inquiry heard.
The judicial commission of inquiry into the PIC has heard that former finance minister Malusi Gigaba received a message in late 2017 warning him that removing Dan Matjila as PIC boss would be "catastrophic" and a setback to an unspecified "project".
A former PIC executive who was implicated in the financial saga of the collapsed VBS Mutual Bank has sought to clear his name.
The former head of the state asset manager's IT department also told the judicial commission of inquiry into the PIC that former PIC CEO Dan Matjila instructed her to hand over all admin passwords.
The inquiry, headed by former president of the Supreme Court of Appeal, Justice Lex Mpati, is investigating allegations of impropriety and maladministration at state-run asset manager.
The judicial commission of inquiry into state-run asset manager the Public Investment Corporation resumes after hearing evidence from a number of board members, including chairperson Mondli Gungubele.
Mondli Gungubele has started his testimony at the judicial commission of inquiry probing allegations of impropriety at the state-run asset manager.
A deepening crisis at South Africa’s biggest money manager the Public Investment Corporation is threatening to cast a pall over the economy and throw into doubt potential deals, including the bailout of one of the nation’s largest clothing retailers.
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?
The ongoing judicial commission of inquiry into the PIC has heard evidence of the same people repeatedly receiving funding from the state-run asset manager.
Sakhumnotho chairperson Sipho Mseleku has rejected evidence that former PIC boss Dan Matjila imposed a partnership between the company and another entity in a Total SA empowerment transaction.
Government pension fund holders are subsidising BEE deals conducted by the Public Investment Corporation without a strong investment rationale, according to evidence heard by the inquiry probing the affairs of asset manager.
The commission of inquiry into the PIC will resume on Monday, with board members and former employees expected to give evidence on the governance of the state-owned asset manager.
A corruption case against former Public Investment Corporation CEO Dan Matjila is still open, according to evidence heard by the judicial commission of inquiry into the state-run asset manager.
According to the interim findings of a PIC governance review report, the asset manager was focused on the quantity of deals, with less attention paid to quality.
Deputy Finance Minister and chair of the board of state-run asset manager the PIC Mondli Gungubele testified on Monday on how the allegations of corruption against former CEO Dan Matjila led to a strain among board members.
Key witnesses are set to testify before the Commission of Inquiry into the PIC this week.
A non-profit has called for more diversified management of public sector employees' funds, whose contributions are mainly administered by the PIC.
Cape TownAmazon Development Centre SA (Pty) Ltd
Cape TownTracking Talent
Somerset WestFinovate PeopleR9 500.00 Per Month Per Month
R 2 995 000
R 1 349 000
R 2 495 000
We subscribe to the Press Code.
You choose what you want
News24 on Android
Get the latest from News24 on your Android device.
Terms and Conditions
24.com Terms and Conditions - Updated April 2012
Creating your profile will enable you to submit photos and stories to get published on News24.
This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.