Malusi Gigaba appears to have an ulterior motive when it comes to the PIC
12 October 2017
The Minister of Finance, Malusi Gigaba, claims to be acting to restore the integrity and ensure public trust in the Public Investment Corporation (PIC).
However, as details of the letter addressed to the Chairperson of the PIC’s Board, Deputy Minister, Sfiso Buthelezi, emerge the strong impression is created that the minister has an ulterior motive, which is ultimately to purge the senior management of the PIC.
The minister seems, most importantly, determined that a forensic investigation, to be conducted by an external audit firm, be launched into the conduct of Dr Dan Matjila, the PIC’s Chief Executive Officer, despite the fact the allegations against him were found to be baseless by the PIC’s Board.
We must act to ensure that the R1.87 trillion, under management by the PIC, is not “captured” by rent seeking factions in the governing party, or by ministers desperate to bailout “zombie” state-owned enterprises, like South African Airways.