Deputy Finance Minister Mondli Gungubele testifies at PIC inquiry
Deputy Finance Minister Mondli Gungubele, who is also chairperson of the Public Investment Corporation's board, on Monday arrived at the public inquiry chaired by former Supreme Court of Appeal Justice Lex Mpati to give evidence before the probe set up by President Cyril Ramaphosa.
At 10am, Mpati resumed the public hearings with a call for any persons with "information relevant to our terms of reference" to contact the commission.
The inquiry's evidence leader told the commission that Gungubele - the former Ekurhuleni Mayor - had volunteered to come and testify, and had not been subpoenaed.
Last year on 17 October, President Ramaphosa announced that he had set up a commission of inquiry into allegations of impropriety regarding the PIC and gave it six months to complete the investigation.
The PIC, the biggest asset manager in Africa and which manages almost R2 trillion in government pension and other funds, has been mired in controversy with allegations of impropriety against its directors regarding some of its investment decisions.
The commission is led by Mpati, assisted by former Reserve Bank Governor Gill Marcus, and veteran asset manager Emmanuel Lediga.
Among the 16 Terms of Reference the Commission must probe, is whether any alleged impropriety regarding investment decisions by the PIC in media reports in 2017 and 2018 contravened any legislation.
The Commission is probing whether PIC policy or contractual obligations resulted in any undue benefit for any of its directors, or employees or any associate or family member of any director or employee at the time.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
