The new rules are an improvement, but proper implementation is vital, writes Murray Hunter and Cherese Thakur.
More sun than clouds. Cool.
The Public Investment Corporation's board said it is working on a plan to implement the recommendation of the Mpati Commission's report.
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.
Axed PIC assistant portfolio manager Victor Seanie plans to challenge his dismissal and clear his name.
There are concerns that businessman Iqbal Survé's Sekunjalo Holdings could be moving assets offshore, PIC interim chair Reuel Khoza tells Business Times.
The Public Investment Corporation is committed to restoring "sound corporate governance" at the institution, members of Parliament have heard.
The commission was led by Justice Lex Mpati and assisted by former Reserve Bank Governor Gill Marcus and veteran stock broker Emmanuel Lediga. They will prepare a final report for the president, to be submitted by October 31.
The PIC inquiry has heard testimony from its final witness on Wednesday - the last of 77 witnesses who provided testimony over the past eight months.
The former head of the state-asset manager says the R4.3bn the PIC invested in AYO Technology Solutions has not been lost.
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?
Dan Matjila was continuing to testify about the PIC's investments in companies linked to the Sekunjalo group.
President Cyril Ramaphosa released the 995-page report into allegations of impropriety at the state-owned asset manager this week.
Ramaphosa appointed the commission in October 2018 to investigate allegations of irregularities at the state-run asset manager.
The Public Investment Corporation has confirmed the dismissal of portfolio manager Victor Seanie, following a disciplinary process.
The state asset manager was updating MPs about plans to recoup investments and loans.
The state asset manager has welcomed a high court decision to have two former executives implicated in the VBS Mutual Bank collapse declared delinquent.
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.
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.
The commission of inquiry was set to hear further testimony from the PIC's former head, Dan Matjila, about investments in AYO Technology Solutions and related matters.
The former CEO of state-run asset manager the Public Investment Corporation is testifying for the 11th day before the judicial commission of inquiry into the PIC.
The former CEO of the state-run asset manager says Independent Media was aiming to attract more government advertising after it was bought by Iqbal Survé's Sekunjalo.
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