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Deputy Finance Minister and chairperson of the PIC board Mondli Gungubele has started his testimony before the judicial commission probing allegations of impropriety at state-run asset manager the PIC as hearings resume on Monday in Pretoria.
Thabi Leoka, spokesperson for the inquiry, said some members of the PIC board will also appear on Monday.
The PIC is a government-owned investment vehicle that manages some R2trn of state employee pension funds.
The commission did not make the names of witnesses public before Monday morning. In a previous statement, it revealed that certain witnesses who testified before it had received anonymous death threats.
The inquiry, headed by former president of the Supreme Court of Appeal, Justice Lex Mpati, submitted its interim report to President Cyril Ramaphosa on February 15. The report has not been made public.
Board resignation
The asset manager's board asked to resign en masse at the start of February. Gungubele is the chair of the board.
The board said at the time there had been a "concerted effort" to discredit its function. As Fin24 previously reported, in their letter of resignation, the nine non-executive board members further stated that there had been "various allegations against at least four directors for now". The letter did not divulge the allegations levelled against them.
The board is still in place while Finance Minister Tito Mboweni get the process to appoint a new board underway.
* More to come
