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Association concerned about some PIC investmentsAssociation for Monitoring and Advocacy of Government Pensions says the PIC doesn't seem to have a proper mandate when it chooses to invest.
Source: ewnupdates - 🏆 30. / 53 Read more »
PIC inquiry witness suspended by the board just before testimonyThe board of the Public Investment Corporation has suspended its executive head of listed investments, Fidelis Madavo, with immediate effect, following an internal audit into its controversial deal involving Ayo Technology Solutions. In the meantime other companies are acting decisively on allegations. Government and the ANC on the other hand are seeking all excuses not to act. I am not surprised of Firdelis’ suspension- his mismanagement of investments like Lonmin has cost the country more that ZAR10bil already. I personally warned him on matters pertaining to the recapitalization of Lonmin and actions needed. He ignored good advice.
Source: mailandguardian - 🏆 2. / 92 Read more »
PIC suspends two staff members following probe into Ayo dealThe board of the Public Investment Corporation (PIC) on Tuesday announced that it has suspended one of its executives and a staff member following the completion of a preliminary probe report into the Ayo Technology Solution transaction.
Source: City_Press - 🏆 7. / 72 Read more »
PIC executive suspended with immediate effectThe suspension is not connected to the inquiry, according to a statement released by the PIC board. Sure it's not connected. Not yet. But it was always going to be. WTF is PIC? Never once spelled out in yr article. Not everybody knows every acronym. fail
Source: eNCA - 🏆 49. / 51 Read more »
I've seen no impropriety, PIC executive tells inquiry | IOL NewsPIC head of research and project development Sholto Dolamo has told the commission of inquiry into the entity that he has no knowledge of impropriety.
Source: IOL - 🏆 46. / 51 Read more »
PIC inquiry starts with appeal for information and company overviewInquiry leader Mpati in his opening remarks urges those with knowledge of any untoward dealings involving the Public Investment Corporation to approach the commission
Source: BDliveSA - 🏆 12. / 63 Read more »
WATCH: The PIC Commission of InquiryThe Public Investment Corporation (PIC) Commission of Inquiry continues in Pretoria on Wednesday morning.
Source: SABC News Online - 🏆 32. / 51 Read more »
Gungubele will not appear before PIC commission, for nowThe PIC’s commission into issues of impropriety at the state asset manager will continue on Monday, but the chair of the board, deputy finance minister Mondli Gungubele, is not on the list of witnesses set to appear before the commission. Why not He is after all the chair!!
Source: mailandguardian - 🏆 2. / 92 Read more »
‘I was told to suspend Madavo, Seanie’ – PIC HR head tells inquiryExecutive head of listed investments Fidelis Madavo and assistant portfolio manager Victor Seanie were served with suspension notices on Tuesday morning.
Source: ewnupdates - 🏆 30. / 53 Read more »
PIC board chair Gungubele ready to share Ayo transaction report with commissionThe R4.3 billion investment in Iqbal Surve's Ayo Technologies company by the PIC was flagged as controversial for some time, prompting an internal investigation.
Source: ewnupdates - 🏆 30. / 53 Read more »