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BL Premium reports that the Public Investment Corporation (PIC) has been ordered by the Commission for Conciliation, Mediation and Arbitration (CCMA) to reinstate Matshepo More as its CFO.
More, who held the position under the fund manager’s former CEO, Dan Matjila, approached the CCMA in October 2021 after she was fired. Seeking reinstatement, she argued that the PIC failed to follow procedure when terminating her employment. “The PIC board is considering the arbitration award and will take advice on the way forward in this regard,” spokesperson Sekgoela Sekgoela indicated. The ruling may, in the interim, put on hold the PIC’s search for a new CFO. Brian Mavuka has been acting CFO since the PIC terminated More’s contract. The PIC, which manages R2.2-trillion in pension and social funds on behalf of the Government Employees Pension Fund, the Unemployment Insurance Fund and the Compensation Fund, opposed the application. More was fired in 2021, two-and-a-half years after she was suspended from the PIC for her involvement in irregularities related to the PIC’s R4.3bn investment in Ayo Technology Solutions.
- Read the full original of the report in the above regard by Thando Maeko at BusinessLive (subscriber access only)
Get other news reports at the SA Labour News home page