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United Democratic Movement (UDM) leader Bantu Holomisa accused finance minister Nhlanhla Nene of favoritism after the national treasury announced Wednesday that he would launch an investigation into the events that occurred at the Society. Public investment (PIC). reported that Nene had met with the PIC's board of directors to inform them of the decision to open an independent investigation into the captain's affairs and to initiate a forensic investigation into the allegations against certain leaders of the PIC.
Independent Survey on PIC
In a statement however, Holomisa came out in opposition to the measures Nene took. Holomisa argues that the Minister gave the responsibility to institute the investigation "by the same people who may be tainted".
"Who Will Write the Terms of Reference for the Inquiry?" Holomisa asks, adding that Nene "can not rely on the same advice and general manager, Dr. Dan Matjila, to be a player and referee. "
" That smacks of favoritism and the protection of a person who could be on the wrong side of the law once the commission goes to work "
Holomisa criticized the fund manager belonging to the State and his boss, Dan Matjila – calling for the suspension of the PIC's head.
But on July 16, Holomisa was gagged by the Pretoria High Court after allegedly that a large BEE investment firm, Lebashe Investment Group, and business figures could be involved in the corruption at PIC.
Holomisa wrote open letters to President Cyril Ramaphosa, urging him to expand the terms of reference in the state capture survey to include PIC investigations.
READ MORE: PIC's boss, Dan Matjila, disdains the frivolous UDM to have it suspended 19659004] The PIC is a state-owned company that manages nearly 2,200 billion dollars. Assets, of which more than 98% belong to the government or its employees. The badets include the Government Employees Retirement Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund. – Supplemental report by Mashadi Kekana
Read the statement of the UDM below:
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