City Press Business reports that Finance Minister Malusi Gigaba said on Friday that he had heard the request of unions to have a labour representative on the Public Investment Corporation (PIC) board and would arrange a meeting to discuss the matter.  

Government employees appoint half of the trustees on the Government Employees Pension Fund (GEPF) board, but have no say about the nonexecutive directors of the PIC board.  The PIC manages R1.9 trillion in funds on behalf of the GEPF, the Unemployment Insurance Fund (UIF), the Department of Labour’s Compensation Fund and other entities.  Dennis George of the Federation of Unions of SA (Fedusa) said on Friday:  Not only do we want labour representatives within the PIC board, we also want them on the boards of state-owned enterprises.  This way we can prevent looting.”

• Read this report by Vukile Dlwati in full on page 4 of City Press Business of 8 October 2017