Former PIC board member contradicts Gungubele over board resignations | Business | M&G

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 92%

South Africa News News

The board of the PIC was asked to resign immediately or face being fired following allegations of corruption, the judicial commission of inquiry heard on Tuesday.

The board of the Public Investment Corporation was asked to resign immediately or face being fired following allegations of corruption, the judicial commission of inquiry heard on Tuesday.

On January 29 minister of finance Tito Mboweni was one of many copied on emails from “Noko”, claiming Hlatshwayo and former chief executive Dan Matjila had worked together to approve an overvalued R4-billion Karan Beef deal to benefit Hlatshwayo’s alleged lover and a politician. Hlatshwayo said in a meeting on the same day leading up to the resignation, that Gungubele had excused himself to take a call, and when he returned he told the board that he had been speaking to Mboweni and had “significant” news that would change everything.

Earlier this week Gungubele told the commission that Mboweni did not tell the board to resign but to reflect on whether they had done a good job at the PIC and also their integrity. Gungubele later told journalists that the board’s decision to resign was unanimous.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

PIC chair ‘withheld’ Matjila’s disputed resignation letter | Business | M&GPIC board chairperson Mondli Gungubele withheld former chief executive Dan Matjila’s resignation letter from the PIC board, the Mpati commission of inquiry heard on Wednesday.
Source: mailandguardian - 🏆 2. / 92 Read more »

Senior executives implicated in irregular Ayo transaction still at PIC | Business | M&GThis is only one deal, most definitely there MUST have been many more .
Source: mailandguardian - 🏆 2. / 92 Read more »