The United Democratic Movement (UDM) wishes the Mpati Commission to take a deep look into the investment linkages between the Government Employees Pension Fund, the Public Investment Corporation and Sibanye-Stillwater.
Sibanye had acquired the Stillwater Mining Company and is located and managed in two regions i.e. Southern Africa region and the United States region.
We understand that the Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) has invested in Sibanye-Stillwater.
The questions the UDM wishes the Commission of inquiry into allegations of impropriety regarding the Public Investment Corporation to ask, are, amongst others:
• How much of the GEPF and the PIC’s monies are invested in this deal?
• How much of that money lies outside our borders?
• How was the deal structured and what does this mean for government workers’ pensions?
• Why is Sibanye-Stillwater hellbent on retrenching South Africans thus jeopardising the future of hundreds-of-thousands of mineworkers, especially considering the impact that retrenchments have on these families where those salaries are their only source of income.
To get to the bottom of the matter, the Mpati Commission should summon the aforementioned parties to testify before it, as well as the Association of Mineworkers and Construction Union which have made allegations of wrongdoing in the company.
Issued by:
Mr Bantu Holomisa, MP
UDM President
