20°C / 22°C
  • Thu
  • 26°C
  • 13°C
  • Fri
  • 27°C
  • 10°C
  • Sat
  • 30°C
  • 10°C
  • Sun
  • 29°C
  • 13°C
  • Mon
  • 30°C
  • 16°C
  • Tue
  • 27°C
  • 15°C
  • Thu
  • 21°C
  • 15°C
  • Fri
  • 22°C
  • 16°C
  • Sat
  • 19°C
  • 14°C
  • Sun
  • 19°C
  • 13°C
  • Mon
  • 19°C
  • 13°C
  • Tue
  • 20°C
  • 12°C
  • Thu
  • 28°C
  • 15°C
  • Fri
  • 29°C
  • 13°C
  • Sat
  • 30°C
  • 13°C
  • Sun
  • 32°C
  • 15°C
  • Mon
  • 28°C
  • 17°C
  • Tue
  • 29°C
  • 16°C
  • Thu
  • 29°C
  • 13°C
  • Fri
  • 28°C
  • 10°C
  • Sat
  • 30°C
  • 12°C
  • Sun
  • 30°C
  • 16°C
  • Mon
  • 30°C
  • 18°C
  • Tue
  • 31°C
  • 17°C
  • Thu
  • 23°C
  • 18°C
  • Fri
  • 21°C
  • 18°C
  • Sat
  • 24°C
  • 18°C
  • Sun
  • 23°C
  • 17°C
  • Mon
  • 23°C
  • 18°C
  • Tue
  • 24°C
  • 18°C
  • Thu
  • 22°C
  • 15°C
  • Fri
  • 21°C
  • 14°C
  • Sat
  • 20°C
  • 15°C
  • Sun
  • 18°C
  • 13°C
  • Mon
  • 18°C
  • 12°C
  • Tue
  • 19°C
  • 13°C
  • Thu
  • 23°C
  • 11°C
  • Fri
  • 28°C
  • 13°C
  • Sat
  • 24°C
  • 13°C
  • Sun
  • 22°C
  • 11°C
  • Mon
  • 22°C
  • 8°C
  • Tue
  • 22°C
  • 7°C
  • Thu
  • 19°C
  • 14°C
  • Fri
  • 22°C
  • 15°C
  • Sat
  • 18°C
  • 13°C
  • Sun
  • 17°C
  • 12°C
  • Mon
  • 17°C
  • 11°C
  • Tue
  • 17°C
  • 11°C
  • Thu
  • 30°C
  • 16°C
  • Fri
  • 30°C
  • 14°C
  • Sat
  • 31°C
  • 14°C
  • Sun
  • 33°C
  • 16°C
  • Mon
  • 32°C
  • 18°C
  • Tue
  • 32°C
  • 17°C
  • Thu
  • 27°C
  • 13°C
  • Fri
  • 29°C
  • 11°C
  • Sat
  • 31°C
  • 13°C
  • Sun
  • 33°C
  • 16°C
  • Mon
  • 32°C
  • 15°C
  • Tue
  • 30°C
  • 17°C
  • Thu
  • 27°C
  • 16°C
  • Fri
  • 26°C
  • 14°C
  • Sat
  • 29°C
  • 13°C
  • Sun
  • 29°C
  • 16°C
  • Mon
  • 23°C
  • 17°C
  • Tue
  • 32°C
  • 17°C
  • Thu
  • 20°C
  • 13°C
  • Fri
  • 21°C
  • 14°C
  • Sat
  • 18°C
  • 14°C
  • Sun
  • 17°C
  • 12°C
  • Mon
  • 17°C
  • 11°C
  • Tue
  • 18°C
  • 10°C

PIC inquiry expected to hear details of alleged impropriety, dubious investments

The PIC's executive head of property Vuyani Hako is expected to shed more light on reports of alleged impropriety and dubious investments.

The commission of inquiry into the Public Investment Corporation (PIC) got underway on Monday, 21 January 2018. Picture: SABC Digital News/youtube.com

JOHANNESBURG – The commission of inquiry into the Public Investment Corporation (PIC) is set to enter its second week with testimony from the executive head of property.

Vuyani Hako is expected to shed more light on reports of alleged impropriety and dubious investments.

The PIC, which is wholly owned by the government, is the largest investor on the continent and manages government pension and other funds worth about R2 trillion.

This week the PIC commission of inquiry is set to hear from Hako, Naledi Forensic Services and former board member Dr Claudia Manning.

Manning resigned last year allegedly over the handling of an investigation into embattled CEO Dan Matjila.

Last week two employees, Fidelis Madavo, who testified on day 2 and Victor Seanie, were suspended following an investigation into the controversial Ayo transaction.

The R4.3 billion investment into the company by the PIC was considered dubious due to the high valuation placed on the stock at its listing.

Madavo claims the investment was passed on to his team by Matjila and he didn't sign off on the deal because he was out of the country.

(Edited by Leeto M Khoza)

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus