Public investment corporation
PIC hopeful job cuts can be averted at Edcon
The PIC - which has R1.2 billion invested in the retail giant - has welcomed its proposed restructuring plan saying this was the best chance of saving jobs.
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PIC extends CFO Matshepo More's suspension
Matshepo More, who assumed the role of acting CEO while Dan Matjila was placed on suspension, was also suspended for interfering with the work of the commission.
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PIC expects to greatly benefit from new CEO Abel Sithole’s experience
Finance Minister Tito Mboweni announced Sithole’s appointment on Wednesday, who is now the first permanent CEO since Dan Matjila who resigned under a cloud in 2018.
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Govt expresses confidence in Abel Sithole as new PIC CEO
Sithole takes over as CEO after a difficult period at the state fund manager plagued by governance failures and maladministration.
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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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Cabinet approves appointment of Sithole as PIC CEO
Sithole is currently the principal executive officer of the Government Employees Pension Fund and the commissioner of the Financial Sector Conduct Authority.
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Criminal probe to begin after Presidency hands over damning PIC report
The commission of inquiry into the PIC found that there was impropriety at the PIC, as questionable investment decisions were made costing the asset manager billions of rand.
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Matjila may have cost PIC R100m with Steinhoff deal, report finds
The report, released by President Cyril Ramaphosa, has detailed questionable deals worth billions of rands and the flouting of processes to secure them.
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PIC report: Dan Matjila could be held personally liable for ‘malfeasance’
The report detailed how some senior officials flouted processes when making certain investment decisions.
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PIC report finds board not up to standard, execs abused positions
The report implicated a number of current and former senior executives in flouting processes when making investment decisions.
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DA ready to take fight to halt Eskom rescue plan all the way to ConCourt
Labour federation Cosatu started the debate when it proposed that the Government Employees Pension Fund, through the Public Investment Corporation, take over R250 billion of Eskom's debt obligations.
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Workers not responsible for cleaning up govt's Eskom mess - Solidarity
The organisation has told Eyewitness News that it is waiting on the scheme, which was earmarked at investing R250 billion into Eskom to be adopted before heading to court to challenge it.
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Eskom doing all it can to get municipalities to pay up - De Ruyter
Last week, Eskom cut power to the Western Cape’s rail systems due to nonpayment.
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Solidarity ready to challenge Nedlac plan to have PIC save Eskom
The union has described the plan as irrational and immoral, stating that Eskom was a too high risk to invest in.
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PIC fires head of listed investments Fidelis Madavo over Ayo deal
Madavo was suspended by the board last year in January on the basis of a preliminary report into the PIC’s investment in listed technology company, Ayo Technology Solutions.
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DUMA GQUBULE: Cosatu’s plan to get Eskom out of debt
South Africa is facing its worst postapartheid economic crisis with state-owned companies holding crippling debt, but decisive use of pension funds could grow the economy.
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PIC not yet approached on plan to use pensions to bail out Eskom
The PIC said it was open to talks about funding the broke power utility, but was not yet been approached.
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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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Ramaphosa set to act on PIC Inquiry revelations?
The testimonies of the PIC's suspended CEO Matshepo More and her predecessor, Dan Matjila, were pivotal to the work of the commission.
