THE UGLY

Finweek English Edition - - The Week -

Fi­nance min­is­ter Malusi Gi­gaba said there are “no at­tempts to dig into pen­sions for rea­sons that are un­scrupu­lous” fol­low­ing re­ports that govern­ment plans to force the Pub­lic In­vest­ment Cor­po­ra­tion (PIC) to help bail out strug­gling state-owned en­ter­prises, no­tably South African Air­ways. The state­ment came af­ter a news re­port in the on 24 Septem­ber quoted CEO Dan Matjila as say­ing that “po­lit­i­cally con­nected peo­ple” were try­ing to work him out of the PIC as “they’re look­ing for the keys to the big safe”. While Matjila dis­tanced him­self from the re­port at a joint press con­fer­ence with Gi­gaba on 26 Septem­ber, it seems clear that his po­si­tion is un­der fire.

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