PIC Inquiry: Former deputy finance minister Jabu Moleketi rails against Bantu Holomisa allegations

Former deputy finance minister Jabu Moleketi has questioned UDM President Bantu Holomisa’s motives for suggesting he and his colleagues may have used their influence at the PIC to access funding while working in the private sector.

HFM was established in 2007 with almost R22-million in seed funding from the PIC to manage the first Pan-African Infrastructure Development Fund , which raised $630-million to back infrastructure projects across the continent. According to Moleketi, the loan was paid in full. Mahloele denied there was any wrongdoing in his appointment and said he was most likely the most experienced candidate for the job. Moleketi was the first chairperson of HFM and then HGP. He also serves in other high-profile roles, such as chairperson of Vodacom Group.

The three business leaders said the PIC had benefited significantly from the investments it had made in Harith and Lebashe, which they described as pioneers as transformation in their various sectors.

gregnicolson My own reading of the cross exam of the Hon General Holomisa, i think he may have done himself good. He has been accused & it appears HFM does not want to be cross-examined. This is strange & they are hidi g behind technical formalities. Lets wait for the Judge to decide.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Holomisa claims 'hurtful, damaging', ex-deputy finance minister Jabu Moleketi tells PIC inquiryFormer deputy finance minister Jabu Moleketi has dismissed as 'hurtful and damaging' allegations by UDM leader Bantu Holomisa that he used his links with the PIC to gain access to the coffers of the state-owned asset manager. Fin24 Khanithumele noba liphupha uyaphila uSizwe uXhosa egameni loyise kanyana ndingu mkhonto ugwaza ekhaya
Source: News24 - 🏆 4. / 80 Read more »

Moleketi: I never held private corporate interests, positions while I was PIC chair | IOL Business ReportHe is currently a non-executive director of HFM and HGP, as well as a non-executive director of Lebashe Investment Group.
Source: IOL - 🏆 46. / 51 Read more »