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Due diligence: The Mpati Commission found that the PIC had not always adhered to sound policies, processes and frameworks. Photo: Screenshot

Hunt on for PIC’s lost billions

Despite asset growth to R3.7 trillion, questions persist over distressed loans and legacy investment scandals

Former Anglo underground mine workers in Newtown, Johannesburg. Photo: Brian Sokutu

Mine communities group launches campaign against Anglo over plight of former workers

The Mining Affected Communities United in Action says the mining giant must ‘take full responsibility for unpaid debts and abandoned communities’

Absa’s chief executive Arrie Rautenbach has agreed to take early retirement after discussions with the board

Absa head Arrie Rautenbach to step down after two years at the helm

Rautenbach’s appointment to replace Daniel Mminele was criticised by those who saw it as a setback in racially transforming the bank

Go well: David Masondo, the deputy finance minister, says the treasury will look into why firms such as Shell are pulling out of South Africa.

David Masondo bullish on capital flight

The deputy finance minister also says liberalising the energy sector is key to growing the economy

Former president Jacob Zuma. (Photo by Jerome Delay / POOL / AFP)

Zuma unable to stomach his own medicine

There is irony in Msholozi being forced under the heel of the monstrous correctional services system he propped up – will he return behind bars?

According to media reports, a deal has been struck outside court between the Public Investment Corporation (PIC) and Iqbal Survey’s company AYO Technology. (Gallo Images / Foto24 / Lerato Maduna)

PIC settlement: Pension fund must work for society, not a tiny elite

The AYO affair shows the GEPF should stop backing the ANC’s destructive BEE project, pull out of the stock market and support the public sector instead

Haulage truck trailers and pallets near the Heineken NV brewery in Zoeterwoude, Netherlands. Photographer: Peter Boer/Bloomberg via Getty Images

Heineken buying Distell will allow for its diversification in the wake of waning beer sales

Heineken set to brew up local market

Profitable: The prison-industrial complex succeeded in South Africa because of state capture.
(Michele Spatari/AFP)

The incarceration of Jacob Zuma is poetic justice

During his tenure as president he enabled state capture and the building of the prison industrial complex

In South Africa, Bidvest sold Wits and their 99-year legacy into thin air.

Out of our Wits: Should more be done to block club sales?

South African football is in an awkward position where it dare not refuse investment … no matter the cost

Urgent action is required to address the constraints to South Africa’s power system and to reduce the usage of the diesel-fired turbines, the council said.
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An emergency budget needs bold decisions, including a bigger public sector

Choosing this path would create work for many while also building the infrastructure that the country needs

Iqbal Survé’s Sekunjalo Investment Holdings denies it owes the PIC more than R1-billion it used to acquire the media group. (Delwyn Verasamy/M&G)

Sekunjalo: The PIC is on a drive to embarrass Dr Survé

Iqbal Survé’s Sekunjalo Investment Holdings denies it owes the PIC more than R1-billion it used to acquire the media group

Mail & Gaurdian

Editorial: What’s up with the doc?

​Iqbal Survé has been able to construct a business empire in the name of transformation

Pay back the money: Iqbal Survé says the thought of Independent Media collapsing gives him ‘sleepless nights’. (Delwyn Verasamy/M&G)

Will Independent sink with Survé?

About 1 500 media workers may lose their jobs if Iqbal Survé cannot service his companies’ debts

Jayendra Naidoo said that closer to the conclusion of the transaction, Dan Matjila decided to involve the rest of the PIC’s executive team. (Delwyn Verasamy/M&G)

PIC inquiry focuses on Steinhoff deal

Former trade unionist Jayendra Naidoo says former CEO Dan Matjila knew about the deal prior to consulting the PIC’s executive team

Jayendra Naidoo said that closer to the conclusion of the transaction, Dan Matjila decided to involve the rest of the PIC’s executive team. (Delwyn Verasamy/M&G)

Matjila denies responsibility for billions lost in Ayo transaction

The former PIC CEO continued his testimony before the Mpati commission on Monday

Damned if you do: Like many whistle-blowers, Simphiwe Mayisela felt he did ‘the right thing’ by reporting suspicious dealings at the PIC, but he’s now finding it impossible to get work. Photo Delwyn Verasamy

‘I walked into a shitstorm’

The PIC’s former head of IT security did not set out to become a whistle-blower. He was fired and is testifying at the inquiry into the PIC

Advocate Jannie Lubbe (left), evidence leader at the Mpati commission, speaking to former PIC head Dan Matjila (centre). Matjila has been accused of standing in the way of the growth of black empowerment companies. (Delwyn Verasamy/M&G)

Maponya takes PIC to court

MMI claims that the state asset manager owes it millions for work conducted for SA Home Loans

Reuel Khoza has been appointed interim PIC board chair. (Gallo)

Reuel Khoza appointed as interim PIC board chair

Khoza was elected at the board’s first meeting since their appointment earlier this month

Budget buster: Finance Minister Tito Mboweni has to keep rescuing Eskom (David Harrison/M&G)

Mboweni tells PIC board to leave the politics to him

The finance minister gave assurances that government will not interfere with the day to day running of the corporation

Former PIC chief executive Dan Matjila said that proposals for the PIC to invest in Sagarmatha were led by Sekunjalo chairperson Iqbal Survé in November 2017. (Lerato Maduna/Gallo Images)

Surve’s suggested valuation for Sagarmatha shot down by PIC

The proposal to lower Sagarmatha’s pre-listing share price was not supported by the PIC’s investment team