General Bantu Holomisa, leader of the United Democratic Movement (UDM), accused the Public Investment Corporation (PIC) of failing to assure the country that the state-owned asset management entity is directed and controlled ethically and effectively. Image: Picture Bongani Mbatha/Independent Media
United Democratic Movement (UDM) leader Bantu Holomisa has accused the Public Investment Corporation (PIC) of failing to assure the country that the state-owned asset management entity is directed and controlled ethically and effectively, despite providing impressive financial statistics. Holomisa recently wrote to President Cyril Ramaphosa and Scopa chairperson Songezo Zibi, warning that the R3.5 trillion managed by the PIC on behalf of the public servants was at enormous risk due to persistent corruption, mismanagement and political capture.
He said that althoug
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