Fear and distrust ‘nothing new’ among PIC employees | Business | M&G

The climate of fear and distrust in the corridors of the Public Investment Corporation has a long and chequered history.

He relayed how the PIC commissioned a Deloitte climate survey of the working conditions in an effort to deal with the “mounting tension” in the sub-committees and executive committees. About 134 staff members were interviewed in the survey. The Innovation Lab sessions, which were received well by employees, were short lived but terminated permanently as “some [executive committee] members were not happy with the energy that was unleashed” in these sessions.

“There was a scope restriction on the investments portion of the PIC because they were not able to set up meetings with the investments team, which was a problem for the exercise as Dr Dan Matjila did not meet with KPMG, not once,” Jack explained.

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