The Democratic Alliance has called for urgent parliamentary hearings after the Public Investment Corporation suspended its chief executive and acting chief investment officer amid a growing governance crisis.
Trade unions, business organizations and political parties are increasingly concern about mounting allegations of governance failures at the state-owned Public Investment Corporation (PIC), following its suspension of its CEO on Monday night.
Trade unions gave mxied reactions to the announcement that PIC Chief Executive Patrick Dlamini had been put on "precautionary suspension".
Claude Naiker from the Public Servants Associations (PSA) said: “This development is a significant step towards restoring accountability and confidence in the management of public servants’ pension funds.”
Naiker added that the PSA has consistently raised serious concerns about the continued losses incurred through the PIC’s high-risk private equity investments, for a number of years.
