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Holomisa expects evidence of unlisted PIC transactions to come to light

A judicial commission of inquiry which will look into allegations of impropriety and dubious investments is expected to get underway on Monday.

FILE: UDM leader Bantu Holomisa. Picture: Christa Eybers/EWN

JOHANNESBURG - United Democratic Movement (UDM) leader Bantu Holomisa says that he expects damning evidence about unlisted Public Investment Corporation (PIC) transactions worth billions of rands unlawfully paid to friends and employees of the PIC.

A judicial commission of inquiry which will look into allegations of impropriety and dubious investments is expected to get underway on Monday.

President Cyril Ramaphosa signed off on the commission last year and it will be headed by former president of the Supreme Court of Appeal Justice Lex Mpati.

Holomisa, who led calls for the inquiry, said the VBS Bank saga will also come to light.

“We should not be surprised, the last 25 years, politicians who are heading certain departments have usurped the powers that they possess and as a result, the DGs and CEOs of SOEs started taking instructions from politicians,” he said.

(Edited by Mihlali Ntsabo)