Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

GEPFWarren Thompson of Moneyweb spoke last week to Abel Sithole, principal executive officer of the Government Employees Pension Fund (GEPF), following allegations that the board of the Public Investment Corporation (PIC) was going to oust its CEO, Dr Dan Matjila.  

The PIC manages approximately R1.8 trillion on behalf of the 1.2 million active members of the GEPF, whose membership comprises public servants across SA.  Sithole’s views were sought on the GEPF’s relationship with the PIC, as well as concerns regarding the GEPF being used to recapitalise the likes of SAA and potentially a host of other beleaguered state-owned entities.  Sithole explained the levers the GEPF has at its disposal to address any perceived weaknesses in governance at the PIC.  These include activating a provision in the law that gives it power to influence appointments at the PIC, as well as in an extreme scenario, terminating the PIC as the fund’s chosen investment manager.  But Sithole was quick to point out that thus far, they were happy with the working relationship they have with the institution, and this would only change if they felt the PIC did not have the interests of the 1.2 million active members of the GEPF front and centre.

  • Read the transcript of this interview or listen to it at Moneyweb


Get other news reports at the SA Labour News home page