Paul Magula and Ernest Nesane both sat on the board of VBS to guard the PIC’s interests
The Transnet National Ports Authority’s failure to act in Saldanha Bay could saddle it with costs
When asked whether this was ethical, Lebogang Molebatsi said, unless the arrangement was disclosed to other shareholders, “it would not be correct”.
Investment team member testifies about Ayo and Sagarmatha transactions as having come from CEO Matjila
The PIC is struggling to retain skilled investment professionals due to non-competitive salaries and management meddling in investments
Former chief executive Dan Matjila is alleged to have instructed the liquidation of stocks to settle the subscription of Ayo shares
While Ayo and the PIC are seeking the same outcome, it is for different reasons
Paul Magula was dismissed by the PIC in April 2018 for poor performance and failing to protect the PIC from risk and financial loss at VBS
The Public Investment Corporation (PIC) has distanced itself from any notion that it is working with Ayo Technology Solutions
The inquiry into the PIC has heard that the parastatal’s head contravened laws in his bid to expose a whistle-blower