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Public Investment Corporationlatest news & developments

EXCLUSIVE: PwC findings behind the PIC’s Lanseria fight

A confidential draft PwC forensic report obtained by the Mail & Guardian has raised questions about the calculation used to settle the long-running Lanseria Airport dispute,…

Businessman Kagiso Matjila has threatened the PIC, the Government Employees Pension Fund and PIC chief executive Patrick Dlamini with a R1 billion damages claim in an escalation of the battle over the Lanseria International Airport dispute.

Why a settled Lanseria dispute still haunts the PIC

What began as an arbitration over Lanseria Airport has escalated into a major governance crisis for the Public Investment Corporation (PIC), involving a whistleblower complaint…

How Lanseria became the fault line in the PIC power struggle

The Public Investment Corporation (PIC) is embroiled in a significant governance crisis, stemming not from a recent whistleblower complaint, but from a long-standing dispute over…

Lanseria dispute at heart of PIC board probe

A whistleblower complaint before the Public Investment Corporation (PIC) board highlights governance issues, alleged conflicts of interest, and the authority behind a forensic…

Under fire: Public Investment Corporation chief executive Patrick Dlamini. Photo: Supplied

Explosive whistleblower report nails PIC CEO

The board of the Public Investment Corporation (PIC) has begun assessing allegations against chief executive Patrick Dlamini after receiving a whistleblower complaint that raises…

Due diligence: The Mpati Commission found that the PIC had not always adhered to sound policies, processes and frameworks. Photo: Screenshot

Hunt on for PIC’s lost billions

Despite asset growth to R3.7 trillion, questions persist over distressed loans and legacy investment scandals

Former Anglo underground mine workers in Newtown, Johannesburg. Photo: Brian Sokutu

Mine communities group launches campaign against Anglo over plight of former workers

The Mining Affected Communities United in Action says the mining giant must ‘take full responsibility for unpaid debts and abandoned communities’

President Cyril Ramaphosa

Ramaphosa: Sovereign wealth fund delayed, but will happen

The president said the fund would not be an additional burden to taxpayers because it would be financed by dividends from ‘well managed’ state-owned entities

File photo: Getty Images

RCL withdraws interdict, so Tongaat creditors’ vote goes ahead — for now

Business rescue practitioner Metis has agreed to amend the ‘unlawful’ Vision group rescue plan

Ghost towns: The mills in Tongaat, Maidstone and Felixton have fallen silent. Photo: Delwyn Verasamy

Sugar industry holds its breath as Tongaat mum on Robert Gumede buyout

The business rescue practitioners are also silent over the company’s debt deal

At stake: Tongaat Hulett employs 40  000 people on its farms in KwaZulu-Natal (above) and Mpumalanga and 65 000 more in Botswana, Mozambique and Zimbabwe. (Delwyn Verasamy/M&G)

Robert Gumede’s Tongaat Hulett purchase hinges on R2bn PIC loan

The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote

The African Development Bank (AfDB) says South Africa’s well-developed financial sector has the potential to be the continent’s powerhouse.

The Fiscal Cliff | Is South Africa nearing a debt crisis?

The real issue is that the February 2023 budget was the least credible assessment of the country’s finances since 1994

Digital Technologies Minister Mondli Gungubele

Gungubele: Government won’t sell its stake in Telkom

The communications minister said the telecommunications company was still strategic to the state’s programme

Telkom shares soar as Sipho Maseko’s acquisition bid confirmed

The former chief executive is credited with saving the company by making inroads into the mobile market

Ring me: Ex-Telkom boss Sipho Maseko could be looking to buy it to facilitate a merger with MTN, challenging Vodacom’s dominance. Photo: Waldo Swiegers/Getty Images

Getting in on former Telkom CEO Sipho Maseko’s game plan

Analysts suggest the former chief executive is interested in taking over Telkom in order to facilitate a deal with MTN, consolidating the local telecommunications space

According to media reports, a deal has been struck outside court between the Public Investment Corporation (PIC) and Iqbal Survey’s company AYO Technology. (Gallo Images / Foto24 / Lerato Maduna)

PIC settlement: Pension fund must work for society, not a tiny elite

The AYO affair shows the GEPF should stop backing the ANC’s destructive BEE project, pull out of the stock market and support the public sector instead

Seeing red: SA Federation of Trade Union members protest the high cost of living and unemployment, among other issues.
Photo: Delwyn Verasamy

Dear SA, halt suicidal policies lest we become an economic wasteland

The government must invest in its people and infrastructure to stimulate the economy

Considering the high cost of data in the country, the South African government should build up this vital public entity rather than sell it to the highest bidder, whose interest is profit not service

Why the sale of state-owned Telkom will be a blow to the poor

Considering the high cost of data in the country, the South African government should build up this vital public entity rather than sell it to the highest bidder, whose interest…

Finance minister Enoch Godongwana.(Brenton Geach/Gallo Images via Getty Images)

Pressure builds as Enoch Godongwana forges on with fiscal consolidation

Enoch Godongwana is currently seized with preparations for the medium-term budget, which will give details on whether fiscal stability is still possible

Blackouts: West Pretoria power station. The country has experienced load-shedding for years, largely as a result of plants breaking down. Photo: Gustav Butlex

Fix Eskom’s power stations to stop the energy crisis

The state must take control of energy supply to increase capacity with funding from the Public Investment Corporation and the South African Reserve Bank rather than relying on…