We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Finance Minister Nhlanhla Nene issued an interesting statement on Monday afternoon in which he announced his intention to make a statement by the end of the week about his decision regarding the serious governance allegations against the CEO of the Public Investment Corporation (PIC), which manages almost R2-trillion of social funds. Apart from brief remarks on the governance of state-owned enterprises (SOEs), Nene also made known that he has completed a review of documentary evidence on how the board dealt with the Dan Matjila saga, and that he will first have to meet the board before announcing "decisive steps" to deal with the matter and restore the public’s confidence in the institution. Two months ago Nene asked his deputy, Mondli Gungubele, to formulate a position on the allegations of serious wrongdoing by Matjila, including favouritism, and whether disciplinary action should be taken against him and other PIC executives. Nene’s announcement about an announcement has sparked ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now