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Mpati Commission should look at GEPF and PIC investment in Sibanye-Stillwater

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 [...]

Admin2019-04-05T15:24:14+02:00April 5th, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home, Mpati Commission|Comments Off

R116m of the PIC’s money to allegedly be spent on UWC student accommodation without due diligence

Dear Honourable Minister Mboweni REQUEST FOR THE URGENT INTERVENTION ON THE POSSIBLE IRREGULAR FUNDING OF IKHAYA STUDENT ACCOMMODATION (PTY) LTD BY THE PUBLIC INVESTMENT CORPORATION The above has reference, and I attach hereto relevant documents for your ease of reference. The referenced documents suggest, amongst others, that: 1. Based on an email dated 4 February 2019 from the Public Investment Corporation’s (PIC) Roy Rajdhar to some George Blackenberg, it appears, that the PIC is [...]

Admin2019-02-06T15:39:44+02:00February 6th, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off

UDM welcomes resignation of PIC board

The United Democratic Movement welcomes the resignation of the Public Investment Corporation’s (PIC) board. The Mpati Commission can now go ahead and do a thorough investigation into the ins and outs of the allegations of corruption that surrounds the PIC. The UDM has equivocally stated in the past that the current board cannot play judge and jury in the investigation into the apparent corruption at the PIC. An interim board must be appointed as [...]

Admin2019-02-01T18:11:44+02:00February 1st, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home, Public Investment Corporation|Comments Off

GEPF’s R7,4 billion write-offs are shocking

The United Democratic Movement noted with disbelief, the Government Employees Pension Fund’s (GEPF) write-offs amounting to R7,4 billion for the 2017/2018 financial year. These write-offs are of direct consequence of some of the Public Investment Corporation’s (PIC) most controversial deals such as investments in Steinhoff/Lancaster 101, as well as with companies controlled by Iqbal Surve. All of which happened under the management of former PIC boss, Dr Dan Matjila. Something is rotten in the state [...]

Admin2018-12-04T11:08:38+02:00December 4th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off

Speech by Mr BH Holomisa, MP and UDM President on the current political landscape, PIC corruption and post-2019 coalitions as a guest of the Current Media Forum

Mr Bantu Holomisa, MPUDM President • Members of the Current Media Forum • Our host, Mr Peter Ford • Ladies and gentlemen 1. Thanks Before we go into the nitty gritty of our conversation, I want to thank the Current Media Forum and Peter Ford for inviting me to have this chat. 2. Introduction We certainly live in interesting times, even though much of the news we consume these days is nauseating. [...]

Admin2018-10-19T14:37:07+02:00October 19th, 2018|2018 Archive, Bantu Holomisa, Home, Speeches|Comments Off

UDM welcomes announcement of PIC commission of inquiry

Mr Bantu Holomisa, MPUDM President The United Democratic Movement welcomes the president’s announcement of the appointment of Justice Lex Mpati as the head of the commission of inquiry into the allegations of corruption at the Public Investment Corporation (PIC). The inquiry should clean-up the mess at the PIC and get to the bottom of the rot we have seen exposed in the media for quite some time. The pension funds of past and [...]

Admin2018-10-17T20:08:43+02:00October 17th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off

To give PIC CEO Dan Matjila a golden handshake is preposterous

Mr Bantu Holomisa, MPUDM President We are all aware that there will be a commission of inquiry which shall investigate the mess at the Public Investment Corporation (PIC). Despite the announcement, we have for several months waited with bated breath to hear who will serve on the commission and what the terms of reference will be. We, in today’s Mail and Guardian, read that PIC chief executive officer Dr Daniel Matjila has [...]

Admin2018-09-28T08:36:52+02:00September 28th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|1 Comment

Public Protector to investigate allegations of corruption by Min Zweli Mkhize re PIC deals

The United Democratic Movement earlier this year wrote to President Cyril Ramaphosa wherein we revealed possible corruption that involved the Public Investment Corporation (PIC), Zonkizizwe Investments (which we understand to be solely owned by the ANC), some ANC heavy weights and Afric Oil. The alleged broker between the PIC and e.g. VBS Mutual Bank and the various municipalities was Minister Zweli Mkhize. We have been reliably informed that the Public Protector will be investigating the [...]

Admin2018-09-26T15:05:58+02:00September 26th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off

Harassment of PIC whistle blowers

Mr Bantu Holomisa, MPUDM President In reference to an article published on Fin24 (https://www.fin24.com/Economy/pic-moves-to-discipline-another-executive-20180914?isapp=true) the United Democratic Movement (UDM) condemns what can only be called permitted harassment of whistle blowers at the Public Investment Corporation (PIC). One is suspicious at government i.e. Minister Nene and President Ramaphosa’s handling of the matter of instituting the commission of inquiry into the PIC. To make matters worse the terms of reference has not yet been published, [...]

Admin2018-09-16T13:32:12+02:00September 16th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off

The Public Investment Corporation: concerns regarding time being taken to institute commission of inquiry and the PIC board appointing forensic auditors

Mr Bantu Holomisa, MPUDM President Dear Mr President This matter has reference. The United Democratic Movement is very concerned that there is no movement in terms of the appointment of the Public Investment Corporation (PIC) commission of inquiry. Sir, in this matter, we want to remind you that Minister Nene had initially, in his court papers, said that he saw nothing untoward at the PIC. This raised some eyebrows at the time. His [...]

Admin2018-09-04T11:18:16+02:00September 4th, 2018|2018 Archive, Bantu Holomisa, Home, Open Letters|Comments Off

PIC commission to start it’s work in “due course”

The United Democratic Movement (UDM) has noted that President Ramaphosa has announced the appointment of a commission of inquiry to probe the Public Investment Corporation (PIC) and the dark cloud of corruption allegations hanging over the institution. Mr Bantu Holomisa, MPUDM Presiden It is however frustrating that the names of the chair of the commission and the supporting team, as well as the detailed terms of reference will be announced “in due [...]

Admin2018-08-17T10:02:32+02:00August 17th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off

Holomisa discusses The “Rainbow Nation” and the Political Culture of South Africa in new SA

• Programme Director • The faculty dean, Prof Van Wyk • Our hostess, Ms Busi Khaba • Staff members • Monash students • Ladies and gentlemen 1. Opening I want to thank our hostess, Ms Khaba, for reaching out to me and inviting me to have a chat with you today. I see many fresh faces in front of me and it is heartening to see young South Africans still interested in politics as [...]

Admin2018-08-15T11:18:05+02:00August 14th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Democracy and electoral reform, Home, Land|Comments Off

The Public Investment Corporation: Harith/Lebashe conflicts of interest and terms of reference of the forensic audit

Dear Mr President The Public Investment Corporation: Harith/Lebashe conflicts of interest and terms of reference of the forensic audit I refer to the United Democratic Movement’s (UDM) letters addressed to your office, as well as the one that we wrote to finance minister Nhlanhla Nene, all regarding the alleged corruption and conflict of interest of various companies/individuals and their relationships with the Public Investment Corporation (PIC). We noted that minister Nene has instructed the [...]

Admin2018-07-26T16:52:15+02:00July 26th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Open Letters|Comments Off

UDM notes minister’s decision re PIC independent inquiry

Mr Bantu Holomisa, MPUDM President Media release by Mr Bantu Holomisa, MP and UDM President The United Democratic Movement notes finance minister Nhlanhla Nene’s instruction to the Public Investment Corporation (PIC) board to commission a forensic investigation into allegations of corruption and to institute an independent inquiry into the PIC’s affairs. The mere fact that the minister has so decided shows that there must be prima facie evidence of wrong doing. We however [...]

Admin2018-07-26T09:02:55+02:00July 25th, 2018|#PICScandal, 2018 Archive, Bantu Holomisa, Home|Comments Off

#PIC #GEPF: employees lost R12bn of pension money with Steinhoff corruption! Any political party that (may) have benefitted through #Steinhoff should: #PayBackTheirMoney

Mr Bantu Holomisa, MPUDM President Of course, the call to “pay back the money” was a legitimate demand for the return of taxpayer money illegitimately used to fund Nkandla, the “Gupta industry” and other sinister personal gains. Right now, there are other monies that should be paid back; that should be returned from whence it came. The Steinhoff debacle shows that corruption and unethical behaviour place people in the path of clear [...]

Admin2017-12-29T08:30:03+02:00December 29th, 2017|2017 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off

UDM rejects Government’s attempts to tap into PIC funds to bail out failing SOEs

The allegations that the Ministry of Finance is trying to access Public Investment Corporation (PIC) funds to bail out failing State Owned Enterprises (SOEs) confirm the United Democratic Movement's (UDM's) long-held suspicion that the mafia styled ruling elite would, once cash-strapped, extend its grubby hands to workers' pensions entrusted to them for safekeeping. The true intention of these transactions is not to bail out struggling SOEs, but rather to ensure that there is enough state [...]

Admin2017-09-26T15:23:01+02:00September 26th, 2017|2017 Archive, Corruption and clean governance, Home, State Owned Enterprises, Zumagate|Comments Off

Public Protector must investigate Public Investment Corporation (PIC)

Dear Advocate Madonsela REQUEST FOR AN URGENT INVESTIGATION: Public Investment Corporation (PIC). I take this opportunity to welcome and wish you and your office, a very successful year in the service of the nation, in 2016. In this regard, I wish to table the following matter with you, so that you may investigate it appropriately for the benefit of the South African public. I have anonymously received serious allegations with regard to the possible corruption [...]

Admin2016-10-28T21:28:00+02:00January 20th, 2016|2016 Archive, Chapter Nine Institutions, Home, Open Letters, Parastatals|Comments Off