UDM leader accuses finance minister of favouritism in handling of PIC boss Dan Matjila
While Dan Matjila has rejected allegations of impropriety and the Public Service Association has defended him, the matter escalated to Treasury
Dan Matjila has been sucked into a storm of impropriety allegations, particularly from United Democratic Movement leader Bantu Holomisa
The head of the PIC has dismissed as baseless a court application by UDM to have him suspended from his job over corruption allegations
A major BEE firm and business leaders took Bantu Holomisa to court after he wrote President Cyril Ramaphosa an open letter
Fedusa wants the pair to be declared delinquent directors for ‘failing to apply the highest standards of ethics and good corporate governance’
The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues
The UDM’s Bantu Holomisa is asking the president to investigate why the PIC paid R1.8-million to a private company when only R1.7-million was approved
The PIC’s investment in Independent News and Media saw it holding a 25% stake in the media group
This comes after the UDM called on President Cyril Ramaphosa to address what it called an ‘iceberg of corruption’ at the Public Investment Corporation
The PIC is a state-owned company tasked with managing nearly R2-trillion in assets, more than 98% of which belongs to the government or its employees
The DA wants Scopa to probe allegations that Cogta Minister Zweli Mkhize received a R4.5-million ‘kickback’ in return for facilitating a PIC loan
Cogta Minister Zweli Mkhize has denied a media report that he demanded a R4.5-million kickback for facilitating a loan to an oil company from the PIC
Underwriting a loan between the retailer and its BEE partner has cost the asset manager R3.3-billion
The alleged improper conduct of the Zeitz MOCAA curator has raised questions about the transparency of a museum that is subsidised with public money
Its due diligence claims are being questioned after the exposure of several large dubious investments
Sagarmatha Technologies has punted itself as the next tech giant – in the same vein as Amazon and Google
An alarming picture is rapidly emerging of poor management, suspect deposits and possibly fraudulent transactions
Iqbal Survé says his unicorn was tripped up by the big bad wolf of procedure in its quest to become SA’s next tech giant
The country cannot afford a a bank collapse while it is on the path of inclusive economic recovery
This notion that the Reserve Bank decided to attack a black bank has got to be condemned says central bank governor
The mutual bank faces the possibility of going bust after the Treasury instructed municipalities to stop investing with it last year.
Eskom has confirmed that the R5-billion short term loan it received from the Public Investment Corporation (PIC) will be paid back on Thursday
The state asset manager is under fire and now the power utility has little option but to cut costs
The Public Investment Corporation has given the cash-strapped parastatal a loan to fund the utility’s operations in February.
The former civil servant who turned around the Land Bank has a much bigger job ahead
Finance Minister announces investigation by Financial Services Board into alleged misconduct
The state is dangerously exposed by the utility’s reliance on borrowing and its ‘dire’ financial position must be reversed, experts warn
The threat to pull their pension funds from the corporation may be a long and complicated fight
Gigaba has also asked the PIC to provide a list of all the investments it has made, and their beneficiaries, to the national treasury.
The corporation needs the fees it charges to manage their pensions so it has to tread warily
Matjila appeared before a board meeting to answer to allegations he misused PIC funds to support an alleged paramour of his.