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Cosatu calls on Ramaphosa to tighten business rescue legislation
The demand followed the failure of the Edcon business rescue plan after workers had poured R2 billion of their savings and the general low rate of success the...
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New PIC CEO Abel Sithole now tasked with turning entity around
The PICs credibility was shattered when its former CEO Dan Matjila was implicated in dodgy deals and corruption in the findings of the pic commission of inquiry earlier this year.
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Pensions: PIC open to finding solutions for the ‘Eskom problem’
The asset manager said it was not consulted about the proposed bailout yet.
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Busa: Cosatu plan to use pension funds to save Eskom mustn't affect taxpayers
Under the proposal, funds from the Unemployment Insurance Fund, Public Investment Corporation, the Development Financing Institution and Development Bank of Southern Africa entities would be used to service 50% of Eskom's over R400 billion debt.
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Cosatu says govt, business, social partners on board with plan to save Eskom
Cosatu wants a special purpose vehicle put together to include the Unemployment Insurance Fund, Public Investment Corporation, the Development Financing Institution and Development Bank of Southern Africa to take over 50% of Eskom’s over R400 billion debt.
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Parly could subpoena Steinhoff executives to hand over PwC report
The Public Investment Corporation on Tuesday told MPs it was taking legal action to compel Steinhoff to hand over the report.
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PIC probing claims that Survé’s Sekunjalo is moving assets abroad
The PIC said it took these claims seriously and would take the necessary precautions to safeguard the funds it invested in Sekunjalo and its subsidiary Ayo Technology Solutions.
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Inquiry hears how businessman tried to make PIC, SA Home Loans pay R45m for deal
Zakheni Dlamini, who is director of business development at SA Home Loans, testified on Wednesday morning at the inquiry into alleged impropriety at the corporation.
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Sacked Fedusa boss Dennis George appealing ‘unfair’ dismissal
Former Fedusa general secretary Dennis George claims the presiding officer in his disciplinary process was biased.
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FIKILE-NTSIKELELO MOYA: No new dawn with old state-owned entities
If there is no plan to fix that which makes the SOE door a revolving one, South Africans will never appreciate why we need to keep pumping billions into these entities, says Fikile-Ntsikelelo Moya.
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WC ANC has not returned election campaign donation, says Iqbal Survé
In a statement, businessman Iqbal Survé said there had been no formal communication from the ANC in the Western Cape to Sekunjalo about returning his donation.
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Reinstated PIC secretary considers legal action over suspension
Bongani Mathebula was suspended last year for misconduct after she allegedly leaked confidential information to a whistle-blower.
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R9.3bn loan to Lancaster 101 for Steinhoff shares above board - PIC official
The loan was approved by former CEO Dan Matjila long before revelations of the fraud scandal that led to the collapse of Steinhoff.
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PIC Inquiry hears Matjila asked businessman to pay alleged girlfriend's debts
While testifying at the PIC inquiry on Wednesday, Mulaudzi said while he wasn't forced to help Louw a young entrepreneur who Matjila had introduced him so he couldn’t say no.
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PIC names Vuyani Hako as acting CEO as Matshepo More suspended
This follows the PIC board's decision to place current acting CEO Matshepo More on precautionary suspension with immediate effect.
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Former PIC IT head says still receiving confidential documents from employees
Simphiwe Mayisela testified at the commission of inquiry on Tuesday how he was tasked with uncovering the identity of an anonymous whistle-blower who had made serious allegations against Matjila.
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WATCH LIVE: PIC inquiry resumes
The commission of inquiry into the Public Investment Corporation resumed on Monday morning.
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Treasury to announce new interim PIC board soon
At least four board members, including Deputy Finance Minister Gungubele, have been implicated in alleged wrongdoing.
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Suspended PIC employee 'being used as scapegoat' for PIC, Ayo deal
Victor Seanie was suspended last week along with the head of listed investments Fidelis Madavo for their involvement in the R4,3 billion investment.
