‘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

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


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


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Don’t earn much? How to best invest tiny amounts...

Don’t earn much? How to best invest tiny amounts...

Earn peanuts, but want to start investing? You can now buy even tiny fractions of a share at a time. And it's very simple!

SPARK Schools provides Singapore-quality education for R19 400 per year

SPARK Schools provides Singapore-quality education for R19 400 per year

Our education system is poor, leading to a proliferation of private schools, most which are unaffordable even for the middleclass.

'How we do business here is very different to how they do business there'

'How we do business here is very different to how they do business there'

Aurik Business Accelerator’s Pavlo Phitidis reports back from the "mind blowing" three-day GrowCo conference in New Orleans.

Eskom report shows its workers are close to SA’s best paid - Mike Schüssler

Eskom report shows its workers are close to SA’s best paid - Mike Schüssler

Excluding executives and senior managers, the average Eskom worker earns more than R600 000 per year, says Schüssler.

Business leaders, be brave!  - Mark Heywood, SECTION27

Business leaders, be brave! - Mark Heywood, SECTION27

SECTION27’s Mark Heywood says business leaders must get over their fear of association with organisations fighting corruption.

Branding expert Andy Rice hates KPMG’s airport ads

Branding expert Andy Rice hates KPMG’s airport ads

However, he loves “Patel and Singh – you’ve tried the cowboys, now try the Indians”. Bruce Whitfield interviews Rice.

Popular articles
Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Stage 1 load s​hedding has been declared nationally. The City of Cape Town has urged residents to take note of the schedules.

Man who dumped body of family dog in street demoted at top JHB law firm

Man who dumped body of family dog in street demoted at top JHB law firm

Media law guru Emma Sadleir warns employees online that there are many potential events that could bring a company into disrepute.

SPARK Schools provides Singapore-quality education for R19 400 per year

SPARK Schools provides Singapore-quality education for R19 400 per year

Our education system is poor, leading to a proliferation of private schools, most which are unaffordable even for the middleclass.

Get ready for another round of load shedding as Eskom workers shut down power

Get ready for another round of load shedding as Eskom workers shut down power

Eskom spokesperson Khulu Phasiwe says the power utility has instructed municipalities to implement stage one load shedding.

[WATCH] SPCA lays animal cruelty charges following violent attack on seal pup

[WATCH] SPCA lays animal cruelty charges following violent attack on seal pup

Video footage emerged on Facebook showing two fishermen brutally kicking and stabbing the animal.

[LISTEN] Wife of Siya Kolisi 'so proud' as husband Siya leads SA to victory

[LISTEN] Wife of Siya Kolisi 'so proud' as husband Siya leads SA to victory

The Springboks won a Test game against England on Saturday under the captaincy of Siya Kolisi.

UPDATE: Joburg man who dumped dead dog claims there were no vets nearby - SPCA

UPDATE: Joburg man who dumped dead dog claims there were no vets nearby - SPCA

The man has told the Sandton SPCA that he could not locate a nearby veterinary clinic in order to dispose of the dog's carcass.

Eusebius: 'Needing to know what happened before the Supersport video is BS'

Eusebius: 'Needing to know what happened before the Supersport video is BS'

Callers on The Eusebius McKaiser Show stand behind Ashwin Willemse who walked off the Supersport Rugby set on Saturday.