Home|Tag: PIC

PIC report: the UDM is vindicated on Harith

The United Democratic Movement (UDM) welcomes the publishing of the long-awaited report of the Mpati Commission of inquiry into the Public Investment Corporation (PIC). We are happy that, even though President Ramaphosa took his sweet time in releasing it, it does not seem as if there was any attempt to lessen the blow. We [...]

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 [...]

2019-04-05T15:24:14+02:00April 5th, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home, Mpati Commission|Comments Off on Mpati Commission should look at GEPF and PIC investment in Sibanye-Stillwater

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 [...]

2019-02-06T15:39:44+02:00February 6th, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off on R116m of the PIC’s money to allegedly be spent on UWC student accommodation without due diligence

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 [...]

2019-02-01T18:11:44+02:00February 1st, 2019|2019 Archive, Bantu Holomisa, Corruption and clean governance, Home, Public Investment Corporation|Comments Off on UDM welcomes resignation of PIC board

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. [...]

2018-12-04T11:08:38+02:00December 4th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off on GEPF’s R7,4 billion write-offs are shocking

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. [...]

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

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 [...]

2018-10-17T20:08:43+02:00October 17th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off on UDM welcomes announcement of PIC commission of inquiry

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 [...]

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 [...]

2018-09-26T15:05:58+02:00September 26th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off on Public Protector to investigate allegations of corruption by Min Zweli Mkhize re PIC deals

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 [...]

2018-09-16T13:32:12+02:00September 16th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home|Comments Off on Harassment of PIC whistle blowers

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 [...]

2018-09-04T11:18:16+02:00September 4th, 2018|2018 Archive, Bantu Holomisa, Home, Open Letters|Comments Off on The Public Investment Corporation: concerns regarding time being taken to institute commission of inquiry and the PIC board appointing forensic auditors

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 [...]

2018-08-17T10:02:32+02:00August 17th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off on PIC commission to start it’s work in “due course”

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 [...]

2018-08-15T11:18:05+02:00August 14th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Democracy and electoral reform, Home, Land|Comments Off on Holomisa discusses The “Rainbow Nation” and the Political Culture of South Africa in new SA

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 [...]

2018-07-26T16:52:15+02:00July 26th, 2018|2018 Archive, Bantu Holomisa, Corruption and clean governance, Home, Open Letters|Comments Off on The Public Investment Corporation: Harith/Lebashe conflicts of interest and terms of reference of the forensic audit

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 [...]

2018-07-26T09:02:55+02:00July 25th, 2018|#PICScandal, 2018 Archive, Bantu Holomisa, Home|Comments Off on UDM notes minister’s decision re PIC independent inquiry

#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 [...]

2017-12-29T08:30:03+02:00December 29th, 2017|2017 Archive, Bantu Holomisa, Corruption and clean governance, Home, Media statements: UDM|Comments Off on #PIC #GEPF: employees lost R12bn of pension money with Steinhoff corruption! Any political party that (may) have benefitted through #Steinhoff should: #PayBackTheirMoney

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 [...]

2017-09-26T15:23:01+02:00September 26th, 2017|2017 Archive, Corruption and clean governance, Home, State Owned Enterprises, Zumagate|Comments Off on UDM rejects Government’s attempts to tap into PIC funds to bail out failing SOEs

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 [...]

2016-10-28T21:28:00+02:00January 20th, 2016|2016 Archive, Chapter Nine Institutions, Home, Open Letters, Parastatals|Comments Off on Public Protector must investigate Public Investment Corporation (PIC)