Exclusive: PIC Commission's Gill Marcus was a Steinhoff ‘beneficiary’ | IOL Business Report

CAPE TOWN – Public Investment Corporation Commission of Inquiry assistant commissioner Gill Marcus is the executive director of the Knysna Initiative for Learning and Teaching , a non-profit organisation that has received donations from the Steinhoff Group.

The collapse of the Steinhoff Group has featured prominently in the commission’s hearings, as the PIC lost billions of rands of state pension fund investments through its shareholding in South Africa’s biggest corporate disaster. The inquiry heard evidence from 77 witnesses over the past eight months, and is working to finalise its report for submission to President Cyril Ramaphosa by October 31.

On Tuesday, a businessperson who preferred to remain anonymous but who has been close to the inquiry, questioned why the commission never requested Steinhoff management to testify, while other companies were vigorously questioned for lengthy periods about much smaller investments made by the PIC. The businessperson suggested that perhaps it was due to Steinhoff’s support of the NGO, because he alleged Marcus had become a “major beneficiary” of the Steinhoff Group.

MbuyiseniNdlozi busrep .p

busrep Who cares? It is customary for big business to donate to several political parties and non profit organisations. Stop sensationalisibg this kinda shot and get a few real crooks in jail please

sakhi_dlamini busrep Unless you can show us a smoking gun, I don’t see what the bruh haha is about. Someone has to be its director...no?

busrep Amen

busrep Iyabhubhudla!!!

busrep Mxm these committees are waste of time nje

busrep The target was Zuma and now this. It explains why they wanted to limit the commission.

busrep Anything associated with anc is corrupt

gmalau32 busrep Ubaba wayikhuluma ngempela lento!

busrep Skeletons

busrep So,this was just a fruitless exercise with this PIC, commission this leaves so much to wonder 🤔whether this commissions of enquiries are being setup to target individuals, why didn't Gill Marcus recuse herself as the commissions chair knowning quite well that she's conflicted.

DjNewSouthAfric busrep These people are corrupt.

MbuyiseniNdlozi busrep Incest.

MbuyiseniNdlozi busrep What’s the definition of “a donation”?

MbuyiseniNdlozi busrep So what

MbuyiseniNdlozi busrep What a time to be alive

MbuyiseniNdlozi busrep It all makes sense why they only wanted to investigate black companies only

busrep Edward West, this is beneath you. It’s lame, whatever your bosses say.

busrep Wonders shall never cease

jacquescupido12 busrep No wonder she was losing her head during Dr Iqbal's testimony.

busrep Yho!!!!

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Transnet reports R49bn in irregular expenditure | IOL Business ReportIrregular expenditure continues to plague Transnet as the State-owned company received a qualified external audit opinion. busrep
Source: IOL - 🏆 46. / 51 Read more »

Fashion retailer Forever 21 files for bankruptcy | IOL Business ReportFashion retailer Forever 21 Inc has filed for Chapter 11 bankruptcy as it joins a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce. busrep
Source: IOL - 🏆 46. / 51 Read more »

Let’s not cut breakfast in tough times | IOL Business ReportOPINION: Let’s all come together and feed a child today in order to break the cycle of poverty, safeguard their future, and maybe even save the country’s economy, writes Eugene Solomon. busrep
Source: IOL - 🏆 46. / 51 Read more »

Zimbabwe turns to regulations in bid to stem currency plunge | IOL Business ReportZimbabwe has clamped down on mobile money, tightened controls on foreign-exchange bureaux and dealers and banned the quoting of prices.
Source: IOL - 🏆 46. / 51 Read more »