Tebogo Tshwane

PIC CEO has too much power, inquiry hears

The merger of the CEO and the chief investment officer roles at the PIC is a centralisation of power that exposes the PIC to huge risk

Former PIC IT security head still giving police confidential leaks

Simphiwe Mayisela was suspended from the PIC in November of 2017 and eventually dismissed on June 2018 following various charges of misconduct

Fear and distrust ‘nothing new’ among PIC employees

The climate of fear and distrust in the corridors of the Public Investment Corporation has a long and chequered history

PIC Commission calls out ‘desperate’ Twitter accounts on fake news

The commission said it is aware of the 'clearly orchestrated recent flurry of messages'' on Twitter circulating inaccurate information

Mystery Mr N rattled PIC

No one can shed light on who is behind damning emails and their far-reaching consequences

PIC chair ‘withheld’ Matjila’s disputed resignation letter

On Monday, Gungubele told the commission that there was a faction in the board which took Matjila’s side whenever it dealt with issues related to him

Senior executives implicated in irregular Ayo transaction still at PIC

At least eight people have been implicated in breaching processes in the irregular R4.3-billion Ayo deal but only two people have been suspended

PIC required to recover R4.3-billion made to Ayo by March 13

The PIC has confirmed that it received a compliance notice from the CIPC ordering it to recover the R4.3-billion made to Ayo Technology Solutions

Former PIC board member contradicts Gungubele over board resignations

The board of the PIC was asked to resign immediately or face being fired following allegations of corruption, the PIC inquiry heard on Tuesday

Ayo: No grounds for PIC to recover R4.3-billion investment

The PIC paid R43 per share for a 29% stake in Ayo, a company in which Independent media owner Iqbal Surve has an indirect stake

Gungubele says he does not have a lack of confidence in the board

On Monday the PIC inquiry heard how the board could not reach consensus on how to deal with the allegations against former CEO Dan Matjila

Politicians on the board of the PIC do not expose it to undue influence — Gungubele

The deputy finance minister does not believe that having a politician on the board exposes the institution to political interference

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