JOHANNESBURG - South African’s state-owned pension fund Public Investment Corporation (PIC) said on Wednesday a whistleblower has made new corruption allegations against two of its board members and the acting chief executive.
The PIC said in a statement, "Having received an e-mail from an anonymous whistleblower, James Noko, regarding allegations of impropriety that implicate two Non-Executive Directors of the PIC Board and the Acting Chief Executive Officer, the Board held a special Board meeting on Tuesday evening, 29 January 2019, given the seriousness of the matter. Following the recusal of the three affected Board members, the Board meeting was chaired by the Deputy Chairman, Dr Xolani Mkhwanazi. At the meeting, it was resolved to immediately conduct a forensic investigation into these allegations. The Board will engage the services of an experienced Senior Counsel to assist the Board with the said investigation."
Earlier today at the Commission of Inquiry into the PIC, Victor Seanie, the assistant portfolio manager testified before the commission.
He is one of the employees that was suspended alongside Fidelis Madavo last week.
The commission adjourned following his testimony and will continue on 25 February 2019.
- BUSINESS REPORT ONLINE