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.

picFin24 reports that the Public Investment Corporation (PIC), which is responsible for managing state employees' pension money, said it would still consider investing in South African Airways (SAA), provided the ailing airline met certain conditions.  

PIC CEO Dan Matjila told members of Parliament on Tuesday that the fund manager had not "closed the door on SAA", but added that the struggling state-owned entity would need to turn around its finances and governance.  The PIC manages investments on behalf of the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund and other funds.  The PIC and the GEPF appeared on Tuesday before Parliament's standing committee on finance regarding their annual reports for the 2016/2017 financial year, their investment mandates and general performance.  Rumours that the PIC might be called upon to provide a lifeline for SAA, have been doing the rounds for months and have elicited very strong negative reactions from unions.  

  • Read this report by Liesl Peyper in full at Fin24
  • Read too, PIC willing to invest in SOEs that 'meet right criteria', at SowetanLive
  • And also, GEPF’s Mokate under fire for dodging state capture questions, at EWN

Get other news reports at the SA Labour News home page