The Star reports that public sector unions have welcomed the institution by Finance Minister Nhlanhla Nene of an independent investigation into the affairs of the Public Investment Corporation (PIC).  

On Wednesday, the Public Servants Association (PSA) said the probe was the only way to deal with allegations at the PIC and clear some of the misconceptions plaguing the crucial organisation.  PSA deputy general manager Tahir Maepa said the investigation would pave the way for the PIC, which manages public funds and assets in excess of R1.9 trillion, to be able to continue with its work.  Cosatu spokesperson Sizwe Pamla said an independent inquiry was a good step, but maintained that what was happening at the PIC was a fight between elites over workers’ money.  “We are interested in (finding out) who has been doing what,” Pamla said.  Earlier this week, the labour federation said it was consulting with its affiliates regarding attempts to remove PIC chief executive Dan Matjila.  Nene announced on Wednesday that he had met with and had informed the PIC’s board of directors that he was instituting an inquiry and a forensic investigation into the body’s affairs and the allegations against some executives.  Nene, who did not specify which executives were being probed, said the move was aimed at looking into “governance issues” at the PIC.  Matjila has been embroiled in controversy for months.

• Read more of this The Star report by Sibongile Mashaba & Bongani Nkosi at SA Labour News

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