CAPE TOWN – The Federation of Unions of South Africa (Fedusa) on Thursday expressed concern about what it described as persistent political intrusion into the operations of the Public Investment Corporation (PIC) by politicians, who advance questionable allegations against the biggest asset manager in Africa.
Fedusa General Secretary Dennis George said on Thursday that Fedusa welcomed the appointment by President Cyril Ramaphosa of a Commission of Inquiry into allegations of impropriety at the fund manager, with a combined portfolio of more than R2 trillion in government pension and other funds and supported the six-month period to complete the investigation.
PIC chief executive, Dr Daniel Matjila, said on Wednesday that he was delighted about President Ramaphosa's appointment of a Commission of Inquiry into the PIC.
"We welcome the commission of an inquiry and hope that the outcome will be an improved governance which will sustain the good performance of the PIC. Out of this will emerge an even stronger organisation that serves its clients with excellence and the economic benefits of the investments are enjoyed by all South Africans," said Matjila.
George said Fedusa remains concerned that repeated allegations by anonymous individuals posing as “whistle blowers” regularly found traction in certain media organisations.