Businessman denies ex-PIC boss forced merger in Tosaco deal

2019-05-13 17:50

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.

PIC said to be courting banker for CEO

2019-04-18 11:29

Africa’s largest fund manager is said to be considering financial services executive Kennedy Bungane to head the institution, according to people familiar with the matter.

Corruption case against ex-PIC boss Dan Matjila still open, inquiry hears

2019-03-05 19:44

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.

PIC inquiry expects 'formidable' witnesses in next round of hearings

2019-02-12 08:31

The Commission of Inquiry into the affairs of state asset manager the Public Investment Corporation says it expects a "formidable line-up of witnesses" in the upcoming round of public hearings.

7 key quotes from suspended PIC employee's explosive testimony

2019-01-30 19:31

The Commission of Inquiry probing allegations of impropriety at the PIC has wrapped up its first round of public hearings with explosive evidence from a suspended assistant portfolio manager.

PIC to investigate acting head, two directors after fresh allegations

2019-01-30 12:31

State asset manager the Public Investment Corporation says it will investigate 'allegations of impropriety' against its acting chief executive officer and two non-executive directors.

PIC said to call urgent meeting, inquiry extended

2019-01-29 17:15

The Public Investment Corporation has called an emergency board meeting, following a report of fresh corruption allegations against a board member.

'I have never seen anything like this before' - PIC exec on AYO funding

2019-01-23 14:26

The head of internal audits at the Public Investment Corporation, has said the R4.3bn acquisition of shares in AYO Technology Solutions was approved without following due process.

Commission of inquiry into Public Investment Corporation gets underway

2019-01-21 06:55

A judicial commission of inquiry into allegations of impropriety at state asset manager the Public Investment Corporation gets underway in Pretoria on Monday morning, with senior executives set to give evidence.

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 inquiry hears of WhatsApp message to Gigaba warning about risks to 'the project'

2019-04-24 17:16

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".

Claims of billion rand deals for friends, death threats and whistleblowers - the PIC inquiry so far

2019-04-08 06:00

From death threats and allegations of wrongdoing in billion rand investments, to the search for an anonymous whistleblower and the suspension of top officials, this is what the commission of inquiry into the Public Investment Corporation has heard so far.

'There is no professional crisis' - deputy finance minister's top 5 quotes at PIC Inquiry

2019-02-25 19:02

From questions relating to the AYO transaction and allegations of corruption, Deputy Finance Minister and chairperson of the PIC board Mondli Gungubele was in the hot seat on Monday before the judicial commission into impropriety at the state-run asset manager. Read some of his top quotes - or read his statement in full.

Diversify investment of public servants' pensions - advocacy group

2019-02-02 16:03

A non-profit has called for more diversified management of public sector employees' funds, whose contributions are mainly administered by the PIC.

AYO transaction a 'foregone decision', PIC inquiry hears

2019-01-30 15:02

The state asset manager's assistant portfolio manager has testified about how the PIC's former head Dan Matjila used his authority to overrule concerns about a controversial R4.3bn investment in AYO Technology Solutions.

PIC board fractured over ex-CEO corruption claims

2019-01-29 20:17

The PIC board was deeply divided over the handling of allegations of corruption against its former chief executive Dan Matjila.

Anonymous whistle-blower 'James Nogu' looms large at PIC inquiry

2019-01-28 13:42

A forensic investigator hired by state asset manager the Public Investment Corporation to probe the source of confidential leaks completed his job without uncovering the identity of a whistle-blower called 'James Nogu'.

AYO business was introduced to PIC by ex-CEO Dan Matjila

2019-01-22 16:04

The proposal to invest in AYO Technology Solutions came from the office of the former Public Investment Corporation former chief executive Dan Matjila.

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.

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.

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