170808. Cape Town. UDM LEADER Bantu Holomisa during the debate in the National Assembly ahead of the Vote of no confidence Picture Henk Kruger/ANA Pictures
JOHANNESBURG - Bantu Holomisa is currently giving his testimony at the  Public Investment Corporation (PIC)  Commission of Inquiry in Pretoria. 

Holomisa said that the interest in the matters of the PIC was sparked when they received an anonymous tip-off that something untoward was happening with management at the PIC. This was when he said he wrote to the Public Protector in 2016 to ask to investigate a number of dubious transactions.


Yesterday two former executives of the PIC, who served on the board of the VBS Mutual Bank, was debarred by the Financial Sector Conduct Authority (FSCA). This was revealed by the FSCA divisional executive for licensing and the business centre, Felicity Mabaso, during her submission to the PIC Commission of Inquiry. She said the PIC executives on the board were implicated in the VBS Bank saga, which raised a red flag and had to be debarred from VBS activities.