Mondli Gungubele exposes PIC divisions

Deputy Finance Minister Mondli Gungubele admitted there have been serious divisions within the board of the Public Investment Corporation particularly over the way members dealt with the serious allegations of mismanagement against then-CEO, Dan Matjila.

PRETORIA - Deputy Finance Minister Mondli Gungubele's raised concerns at the PIC inquiry, about the way allegations of impropriety against the former CEO were dealt with.

WATCH: More revelations expected at the PIC Commission

During his testimony, Gungubele's admitted there have been serious divisions within the board of the Public Investment Corporation particularly over the way members dealt with the serious allegations of mismanagement against then-CEO, Dan Matjila.

He was accused of giving his lover a big loan using PIC funds.

READ: Fedusa secretary-general implicated in shady PIC deal

Gungubele, who was chair of the PIC board, resigned earlier this month along with his fellow board members.

The PIC has been in the spotlight over claims it's mismanaged the pension funds of government employees through poor investments.

Source
eNCA

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