OPINION: PIC probe - Let the truth be told

By adri.senekaldewet Time of article published Feb 25, 2019

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CAPE TOWN - As the Public Investment Corporation (PIC) Commission of Inquiry resumes today, we trust it will treat everyone according to the terms of reference and will treat all involved equally.

A negative perception has been created about certain companies, such as Ayo Technology Solutions, fuelled by thousands of words published by Independent’s competitors, Tiso Blackstar, the owners of Business Day and Sunday Times, over many weeks.

The truth is that a negative and false perception has been created to influence the commission to focus only on Ayo.

Why? I honestly don’t know.

It’s time we connected the dots.

In various articles, our journalist Ayanda Mdluli pointed this out, as he has in Business Report today (see page 13).

The reality is while Sekunjalo chairman Dr Iqbal Survé has had his name dragged through the mud, he has repeatedly availed himself to the PIC Commission, because the truth is what he is about.

Why, I ask again, do the “Soles” of this world choose to crucify a single transformation-focused entity that today still employs thousands of people in various sectors of our economy?

Would you like him to give up?

At least 25000 people will be without jobs. What lies beneath? Independent is not for sale.

The answers we need are with regard to:

  • Alleged impropriety regarding investment decisions by the PIC, such as PIC policy or contractual obligations resulting in undue benefit for any PIC director, employee, associate, family member or employee.
  • Whether any findings of impropriety following the investigation resulted from ineffective governance and/or function by the PIC board.
  • Whether any PIC director or employee used his or her position or privileges, or confidential information for personal gain or to improperly benefit another person.
  • Whether any legislation or PIC policies concerning the reporting of alleged corrupt activities and the protection of whistle-blowers were not complied with in respect of any alleged impropriety.


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