The report by the commission that investigated the Public Investment Corporation says the fund manager’s former CEO lied about his involvement in its R4,3-billion investment in Iqbal Surve’s Ayo Technology
The former PIC chief muses over PIC debt-for-equity, privatisation and selling off power stations
The former PIC CEO denies overseeing a climate of fear at the PIC
The former PIC boss alludes to political interference in some of the state asset manager’s investments
The UDM leader wants the PIC inquiry to probe millions allegedly received by former PIC CEO, Dan Matjila
Suspended acting CEO says former PIC CEO Dan Matjila did not tell her about the multibillion rand deal before it was signed off
Leaked messages show how, Lawrence Mulaudzi, gained an inside track with the PIC setting his sights on becoming a billionaire with pensioners’ money.
The ICT company has denied wrongdoing, however, the JSE has ordered an audit of the financial statements
Under oath, the media owner appeared to contradict an earlier interview with the M&G
VBS is bankrupt and was liquidated in November, after being placed under curatorship by the South African Reserve Bank in March 2018
The state asset manager did not divulge the nature or extent of the alleged interference Matshepo More is alleged to have caused
Key judgement affecting Surve-linked Ayo is set to be handed down on Monday, as PIC witness identities kept under wraps due to safety concerns
The UDM leader says the Mpati commission should proactively investigate the PIC’s unlisted investments
Trade unions fear a late bid to stall the legislation but key aspects have come up at the Mpati commission
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
The commission said it is aware of the ‘clearly orchestrated recent flurry of messages” on Twitter circulating inaccurate information
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
The deputy finance minister does not believe that having a politician on the board exposes the institution to political interference
The commission cannot release the identities of those whose lives have been threatened and the matter has been referred to the police
The commission extended the public hearings by a day on Tuesday but would not be drawn into revealing who the mystery witness is
A former board member told the PIC inquiry that having a deputy finance minister as chair exposes the organisation to political interference
Former non-executive director Claudia Manning told the commission that the board had been divided since September 2017 when the Nogu emails emerged
Claudia Manning will be speaking for the first time since she stepped down from the PIC
Questions arose around the identity of the whistleblower ‘James Nogu’ and whether he worked alone or with an accomplice within the PIC
The inquiry heard how an investigator for the asset manager could not uncover the identity of a whistleblower by the name of ‘James Nogu’
The deputy finance minister says he is willing to appear before the commission, but he has not received any correspondence asking him to come forward
The state asset manager sat on non-compliance report in the Ayo Technology transaction for five months before taking action
The suspension of Fidelis Madavo, an executive at the PIC, was announced prior to him taking the stand at the Mpati commission
Fidelis Madavo has been suspended with immediate effect
The president has instituted a commission to probe allegations of irregularities at the PIC in hopes of ensuring its ‘sound financial management’