Unions warn of protests if pen­sions ‘hi­jacked’

The Star Late Edition - - POLITICS - KHAYA KOKO

COSATU’S big­gest af­fil­i­ate has warned that all of its more than 300 000 mem­bers will take to the streets should Fi­nance Min­is­ter Min­is­ter Malusi Gi­gaba al­low the Pub­lic In­vest­ment Cor­po­ra­tion (PIC), the cus­to­dian of work­ers’ pen­sions, to be “hi­jacked” by the Gup­tas.

The Na­tional Ed­u­ca­tion, Health and Al­lied Work­ers’ Union (Ne­hawu) joined the cho­rus of labour or­gan­i­sa­tions that re­acted to al­leged at­tempts to re­move PIC chief ex­ec­u­tive Dr Daniel Matjila in or­der to re­place him with a Gupta-linked ap­pointee.

Yes­ter­day, Ne­hawu said that legal ac­tion and the mo­bil­i­sa­tion of its mem­bers against the al­leged PIC hi­jack were on the cards should any un­to­ward changes take place in the in­sti­tu­tion’s ex­ec­u­tive.

Yes­ter­day, an In­de­pen­dent Me­dia re­port told of a plan by the con­tro­ver­sial fam­ily to re­place the PIC chief ex­ec­u­tive with a board mem­ber re­cently ap­pointed to the board by Gi­gaba. This, sources said, is set to take place at to­day’s spe­cial board meet­ing, where Matjila has been sum­moned from an over­seas trip in the US by PIC deputy chair­per­son Xolani Mkhwanazi to an­swer al­le­ga­tions of fund­ing a pro­ject linked to an al­leged lover.

The PIC is the big­gest in­vestor in the econ­omy, with roughly R1.8 tril­lion un­der its wing on be­half of the Gov­ern­ment Em­ploy­ees Pen­sion Fund. Teacher union Sadtu said they too were ready to de­fend their money.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.