Give Daybreak ‘space’ to deal with concerns

The Public Investment Corporation (PIC) says the newly installed board at Daybreak Farms must be given “space and time” to address whistle-blower concerns and governance issues that have long plagued the company.

Daybreak is owned by government workers through their investments in the PIC, which last October moved to appoint a new board, following corporate governance and management concerns brought forward by the whistle-blower.

The poultry producer was hit with fresh controversy over the weekend when former auditor Mathapelo More was quoted in a Sunday Times report.

More was axed after uncovering and then reporting irregular payments made to companies linked to senior PIC and Daybreak

officials.

The report says More and three colleagues were instrumental in reporting instances of looting and governance breaches at Daybreak to senior management at the PIC in 2021.

At the time, they claimed R1 million had been stolen – a far cry from the R200 million they now believe has been taken.

But in a statement issued on Wednesday, the PIC says it is continually engaging with the board of Daybreak in its endeavours to ensure that all issues raised by the whistle-blower in 2021 are adequately addressed.

“When a whistle-blower complaint was received by the PIC, the PIC initiated a governance review process.

“Such complaints are dealt with in terms of PIC’s internal processes, including testing the veracity of these allegations. ”

Following the review process, the PIC in October last year appointed a new board to address the internal governance.