PIC board working with Hawks to prosecute those implicated in Mpati report

2020-03-20 15:45

The Public Investment Corporation's board said it is working on a plan to implement the recommendation of the Mpati Commission's report.

PIC report: 7 changes the commission thinks will prevent further blunders

2020-03-14 07:30

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 investment manager says he's the fall guy for Dan Matjila, plans to challenge dismissal

2019-10-25 13:48

Axed PIC assistant portfolio manager Victor Seanie plans to challenge his dismissal and clear his name.

Sekunjalo liquidation 'logical' to help protect state pensions - PIC interim chair

2019-10-20 16:57

There are concerns that businessman Iqbal Survé's Sekunjalo Holdings could be moving assets offshore, PIC interim chair Reuel Khoza tells Business Times.

Returns on civil servant pensions beat other asset managers - PIC

2019-10-15 11:48

The Public Investment Corporation is committed to restoring "sound corporate governance" at the institution, members of Parliament have heard.

7 take-aways from the PIC inquiry

2019-08-14 21:53

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.

PIC inquiry wraps public hearings, commission to prepare final report

2019-08-14 12:28

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.

Matjila: The PIC has not lost money on AYO investment

2019-08-12 13:04

The former head of the state-asset manager says the R4.3bn the PIC invested in AYO Technology Solutions has not been lost.

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?

WRAP: Ex-PIC head says R4.3bn AYO investment was above board

2019-07-24 10:40

Dan Matjila was continuing to testify about the PIC's investments in companies linked to the Sekunjalo group.


Financial advisers 'surprised' by inclusion in PIC report, deny receiving R44 million payment

2020-03-14 11:54

President Cyril Ramaphosa released the 995-page report into allegations of impropriety at the state-owned asset manager this week.

PIC Commission meets deadline to submit final report to Ramaphosa

2019-12-18 15:30

Ramaphosa appointed the commission in October 2018 to investigate allegations of irregularities at the state-run asset manager.

PIC fires investment manager implicated in AYO deal

2019-10-24 14:14

The Public Investment Corporation has confirmed the dismissal of portfolio manager Victor Seanie, following a disciplinary process.

PIC mulls submitting application to liquidate Survé's Sekunjalo over debt, MPs hear

2019-10-15 16:26

The state asset manager was updating MPs about plans to recoup investments and loans.

PIC wins court bid to have two former VBS directors declared delinquent

2019-08-26 12:31

The state asset manager has welcomed a high court decision to have two former executives implicated in the VBS Mutual Bank collapse declared delinquent.

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.

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.

PIC inquiry hearing cancelled yet again as Tshwane protests ongoing

2019-07-30 09:51

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.

WRAP: Ex-PIC CEO claims wide delegated powers to sign investment deals

2019-07-25 09:42

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.

WRAP: Matjila says Gupta-owned New Age ate Independent Media's advertising lunch

2019-07-23 10:07

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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