Gigaba’s statement on PIC strife dismissed as ‘spin’
FINANCE Minister Malusi Gigaba’s call to reveal the identities of companies who benefited from the Public Investment Corporation (PIC) investment deals has been met with mixed feelings.
Yesterday, Gigaba appeared annoyed by continual allegations of a planned plot to raid the government employees pension fund (GEPF), managed by the PIC, allegedly with the aim of bailing out ailing state-owned entities.
Some of these allegations were made by some of Gigaba’s fellow cabinet ministers. Deputy President Cyril Ramaphosa made the latest call to public servants to fight and and protect the fund from being looted.
Ramaphosa was addressing the national general council of the South African Democratic Teachers’ Union (Sadtu) on Thursday.
It appears that Ramaphosa’s directive to Sadtu members and general public servants has irked Gigaba, when he said: “The PIC is being looked at with some dangerous eyes. And we say that is an important institution that you as members of the union must safeguard.”
Gigaba’s office issued a statement saying the minister is concerned about the politicising of the PIC while clarity has been given on the matter.
“(Gigaba) has written a letter to the CEO and board of the PIC, requesting them to provide a list of all its beneficiaries… which he intends to make public.”
Gigaba has also asked Matjila and the board to conduct a forensic investigation into any concerns of irregularities at the asset manager.
The DA, however, has described Gigaba’s move as a “spin machine”.
DA spokesman on finance David Maynier said: “The truth is the minister’s ‘spin machine’ is playing catch-up, desperately trying to claim ownership of processes that are already under way at the PIC. ”