Political formations interfered in botched Sagarmatha deal, says PIC company secretary

United States News News

Political formations interfered in botched Sagarmatha deal, says PIC company secretary
United States Latest News,United States Headlines
  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

Bongani Mathebula says an attachment alleged to be from Kopano ke Matla endorsing the deal was sent to her from Iqbal Survé’s e-mail address

Former Public Investment Corporation CEO Dan Matjila allowed political parties and trade unions to interfere with the PIC’s investment decisions, the state-owned asset manager’s company secretary, Bongani Mathebula, told the commission of inquiry into the affairs of the PIC on Wednesday.

Mathebula, who was suspended from the PIC in 2018 but reinstated by the new board in March, said Matjila asked her to forward these parties’ e-mails to the PIC’s investment committee in order to influence its decision to approve the transaction. She said she had never been asked before to forward e-mails from third parties to the investment committee for consideration when the PIC was looking at possible investee companies.

PGC Group chief investment officer Ntombi Boikhutso said PGC always supported investment opportunities that would benefit workers and the public. She said the organisation saw it “fit” to give its input as it ordinarily does on many industry issues and investment opportunities.An anonymous source from Fedusa said the union would have written a recommendation for investing on Sagarmatha based on the promise by the company that it would create about 5,000 IT jobs after the listing.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former PIC executive says he’s not part of a PIC BEE cartelFormer PIC executive says he’s not part of a PIC BEE cartelJabu Moleketi dismissed allegations made against him by Bantu Holomisa of 'looting state coffers'.
Read more »

Dan Matjila overstepped his authority by suspending me - PIC secretaryDan Matjila overstepped his authority by suspending me - PIC secretaryPIC company secretary Bongani Mathebula was accused of leaking confidential PIC information to an alleged whistle-blower but has since been reinstated.
Read more »

PIC may be about to get new CEO, say sourcesKennedy Bungane, formerly head of Barclays Africa Group outside SA, is rumoured to be the embattled fund manager’s new chief
Read more »

Male nurse faces criminal charges after allegedly botching abortion at homeMale nurse faces criminal charges after allegedly botching abortion at homeThe nurse was allegedly using his long weekend to try his hand at being a doctor, with unfortunate consequences.
Read more »

Mathebula testifies to victimisation at PICMathebula testifies to victimisation at PICPIC secretary Bongani Mathebula said there was victimisation at the asset management company during Former CEO Dan Matjila's tenure.
Read more »

WATCH: Richard Madden shares epic 'Game of Thrones' throwback picWATCH: Richard Madden shares epic 'Game of Thrones' throwback picRichard Madden shared an epic 'Game of Thrones' throwback picture on his Instagram account.
Read more »

Holomisa claims 'hurtful, damaging', ex-deputy finance minister Jabu Moleketi tells PIC inquiryHolomisa claims 'hurtful, damaging', ex-deputy finance minister Jabu Moleketi tells PIC inquiryFormer deputy finance minister Jabu Moleketi has dismissed as 'hurtful and damaging' allegations by UDM leader Bantu Holomisa that he used his links with the PIC to gain access to the coffers of the state-owned asset manager.
Read more »

Lancaster, PIC gun for SteinhoffLancaster, PIC gun for SteinhoffBusinessman Jayendra Naidoo announced this week that his Lancaster Group had laid a R12 billion claim against Steinhoff International Holdings, adding to the existing multibillion-rand barrage of lawsuits against the corrupt multinational.
Read more »

PIC Inquiry: Former deputy finance minister Jabu Moleketi rails against Bantu Holomisa allegationsPIC Inquiry: Former deputy finance minister Jabu Moleketi rails against Bantu Holomisa allegationsFormer deputy finance minister Jabu Moleketi and his colleagues on Tuesday rejected UDM leader Bantu Holomisa’s claims that their businesses have received questionable funds from the PIC.
Read more »



Render Time: 2025-03-13 03:17:28