Statement by Dr Mark Burke MP – DA Spokesperson on Finance:
The Public Investment Corporation finally admitted that not all the recommendations from the Mpati Commission have been implemented.
The Mpati Judicial Commission investigated allegations of wrongdoing at Africa’s largest asset manager.
In 2020, it published its report, which included numerous recommendations that the PIC claimed repeatedly and loudly — until today — to have fully implemented.
In a committee meeting on 5 December, the PIC chairperson David Masondo finally conceded it could not find evidence that its board ever reconsidered the reinstatement of the PIC company secretary Bongani Mathebula, as per Judge Lex Mpati’s recommendation.
This admission leaves open the question of how many other recommendations have been skirted.
In a separate matter post the Mpati Commission, Mathebula was flagged in a forensic report and disciplined for wrongdoing related to Daybreak Foods.
However, she remains the PIC’s company secretary and is one of several senior current and former PIC officials with allegations to answer.
The PIC claims it values transparency and openness but its actions often contradict.
This week, Masondo gave Parliament requested documents but tried to unilaterally label those documents “strictly confidential”.
Acting on advice from Parliament’s legal team sought by the DA, the Standing Committee on Finance refused this arbitrary classification and the information is now in the public domain.
Earlier this year, the PIC chose to courier physical documents requested by Parliament instead of emailing them, leading to long delays.
Likewise, for months the PIC also evaded providing details concerning the R10.8 million golden handshake given to its former COO Vuyani Hako.
The DA welcomes the stated commitment to cleanup, transparency and accountability at the PIC.
However, we’re waiting for evidence to suggest this commitment goes beyond words.
We won’t let pensioners hold the bag for ANC cadres.