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BusinessLive reports that several trade union and political groups launched bids on Thursday to influence the investigation into the affairs of the Public Investment Corporation (PIC) that Finance Minister Nhlanhla Nene announced on Wednesday.
He announced two inquiries: an independent inquiry into governance at the PIC for which he will choose the head and set the terms of reference, and also a forensic inquiry into several directors, including CEO Dan Matjila, that will be run by the fund manager’s board. The PIC manages nearly R2-trillion in government pension and other funds. UDM leader Bantu Holomisa, who has an active court application to force Nene to hold an investigation and suspend Matjila, aims to influence the terms of reference of the inquiry and has written to President Cyril Ramaphosa. Trade union Solidarity also entered the fray on Thursday, announcing that it had launched a court application to compel the PIC to provide it with information on various transactions. These included the PIC’s investment in Independent Newspapers, VBS Mutual Bank and oil and gas company Camac. Cosatu and the DA said it was imperative that the two amendment bills before Parliament must be processed.
- Read this report by Carol Paton in full at BusinessLive
- Read Solidarity’s press statement in this regard at Solidarity News
Get other news reports at the SA Labour News home page