Fin24 reports that the Public Investment Corporation (PIC) has finally parted ways with its CFO, Matshepo More, who has been receiving a full salary from the company for two years since being suspended in March 2019.

The outgoing chairperson of the PIC board, Reuel Khoza, said at a briefing on Thursday that the PIC board had received a report from the chairperson of the inquiry into alleged misconduct and misdemeanours on More’s part and that she had been found guilty of neglect of her duties. "The board, upon very serious reflection and review, felt that in fact, the misconduct and the dereliction of duty were severe enough to warrant her being requested to leave the position," Khoza indicated. He said while it had taken "very long" to complete More's disciplinary process, and the PIC had lost a lot of money paying her salary over that time, it had had to follow due process. Earlier in October, the PIC faced scrutiny for paying the salaries of several of its suspended employees who had been fingered for wrongdoing in the Mpati Commission report. Apart from More, other suspended executives who received their salaries included the PIC's former executive head of impact investments, Roy Rajdhar, who resigned in June 2021, and the former executive head of human resources, Chris Pholwane, who is currently on special leave. It will now be up to the new board - yet to be announced - to finalise other disciplinary processes and recover monies that the PIC has lost. Although More has been dismissed, the PIC said she would leave with her pension. Meantime, the asset manager has referred on the Hawks several transactions that More was implicated in.

• Read the full original of the report in the above regard by Londiwe Buthelezi at Fin24

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