News Formal

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

  • 📰 IOL
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 46. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Eskom group treasurer resigns | IOL Business ReportEskom group treasurer Andre Pillay has resigned after close to two years in the post, the troubled power utility said on Monday.
Källa: IOL - 🏆 46. / 51 Läs mer »

Mbeki Foundation refutes Zuma's allegations - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Thabo Mbeki Foundation has refuted former President Jacob Zuma's testimony that his predecessors; namely Nelson Mandela and Thabo Mbeki, had close relations with the controversial Gupta family.
Källa: SABC News Online - 🏆 32. / 51 Läs mer »

South Africans are negative - Baxter - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Bafana Bafana coach Stuart Baxter says South Africans are negative about their national team. He was speaking at the arrival of the national team from African Cup of Nations in Egypt on Saturday.
Källa: SABC News Online - 🏆 32. / 51 Läs mer »