‘Gigaba licking his lips at prospect of getting hold of PIC pension funds’

They want to remove me... they want the keys to the big safe...

Dan Matjila, Public Investment Corporation
Minister of Finance Malusi Gigaba. Picture: Thomas Holder/EWN

Finance Minister Malusi Gigaba is “licking his lips at the prospect of getting hold of the almost R2 trillion in pension funds under the Public Investment Corporation’s (PIC) administration”, said Huffington Post South Africa’s Editor in Chief Pieter du Toit.

Du Toit said the “assault” on the PIC seems to follow the same modus operandi as previous assaults on Sars and Gordhan's Treasury:

  • Rumours about alleged misconduct or illegal activities start spreading.

  • The powers-that-be announce some or other official investigation into the supposed irregularities.

  • These investigations are often conducted without a clear mandate and are open-ended.

  • The investigations are one-sided and their targets often don't get a right of reply.

  • There are media leaks throughout.

  • Suspension and/or dismissal.

The Money Show's Bruce Whitfield interviewed Du Toit.

For more detail; listen to the interview (scroll down for comments) in the audio below (and/or read the article in HuffPost SA).

The way these things work, it’s subtle…

Pieter du Toit, HuffPost SA

The cast of characters seems to replicate…

Pieter du Toit, HuffPost SA

They’re throwing mud and seeing what will stick.

Pieter du Toit, HuffPost SA

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This article first appeared on 702 : ‘Gigaba licking his lips at prospect of getting hold of PIC pension funds’


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