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#PICInquiry: Sithole 'surprised' over PIC’s summons on GEPF | IOL Business Report

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PICInquiry: Sithole 'surprised' over PIC’s summons on GEPF

JOHANNESBURG – Testifying at the Mpati-led Commission of Inquiry into alleged irregularities and misconduct at the Public Investment Corporation on Monday, Abel Sithole, the principal executive officer of the Government Employees Pension Funds , revealed that it was only last week that the GEPF became aware that they were ‘slipped’ in as a plaintiff in the PIC’s summons against AYO Technology Solutions .

Towards the end of May, the PIC proceeded to issue a summons against AYO over processes regarding the R4.3 billion transaction that was made into the company, by the PIC. According to Sithole, the memorandum did not state that the PIC apparently issued summons on behalf of the PIC and the GEPF.

Matjila revealed how Mulaudzi had approached the PIC to secure funding for two businesses, namely Kilimanjaro Capital , which he was director of and, Tosaco.Matjila was also, however, grilled by the Commission over technical aspects of his testimony given last week.This includes him stating that he had not forced Mulaudzi's Killicap and Sakhumnotho's Sipho Mseleku, to form a merger so, as to stand a good chance to obtain funding from the PIC.

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