Cosatu, Fedusa give thumbs up to new PIC board

accreditation
Finance Minister Tito Mboweni
Finance Minister Tito Mboweni

Cosatu and Fedusa, two of the country’s biggest labour federations, have given the thumbs up to the interim Public Investment Corporation (PIC) board announced this week.

The federations represent millions of workers and have for many years fought for the inclusion of labour representatives on the PIC board.

custodians
Custodians

This week the two federations commended Finance Minister Tito Mboweni’s decision to include three labour representatives on the interim board of the state-owned enterprise, which manages more than R2 trillion on behalf of various state clients, including the Government Employee Pension Fund and the Unemployment Insurance Fund.

Zola Saphetha of Nehawu and Mugwena Maluleke of SA Democratic Teachers’ Union (Sadtu), together with Fedusa’s vice president Ivan Fredericks and Makhubalo Ndaba, the company secretary of the Police and Prisons Civil Rights Union group of companies, were all included on the board.

Cosatu’s parliamentary coordinator, Matthew Parks, said while they were happy the government had finally given in to its long-held demand, the union federation was unhappy with the delay in appointing the board, and the “recycling of some business people on the board”. He said they were unhappy Deputy Minister Finance David Masondo was not appointed board chairperson. – Lesetja Malope

According to National Treasury, the chairperson of the board would only be appointed at the board’s first sitting, the date of which has yet to be decided on.

Fedusa President Godfrey Selematsela said the federation hoped that a strong labour presence would be retained when board’s term ends July next year.


We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24

E-Editions

Read the digital editions of City Press here.
Read now
Voting Booth
Cricket SA is considering replacing Mark Boucher with two coaches, one for red-ball and the other for white-ball responsibilities. Is this a good move?
Please select an option Oops! Something went wrong, please try again later.
Results
Love the idea
35% - 29 votes
Hate the idea
37% - 31 votes
They must just be local
29% - 24 votes
Vote