News / South Africa

Gosebo Mathope
1 minute read
26 Sep 2017
5:32 pm

Malema ‘dishes the dirt’ on the Public Investment Corporation

Gosebo Mathope

Malema has alleged the deputy finance minister is trying to raid the PIC of R3bn, to be given to an empowerment entity headed by his sister.

EFF leader Julius Malema is pictured during a press briefing in Johannesburg, 08 June 2017, on corruption att Transnet. Picture: Refilwe Modise

EFF commander in chief Julius Malema took to Twitter this afternoon in what seemed like an attempt to assist the public with what former finance minister Pravin Gordhan termed “connecting the dots” regarding the current strife at the Public Investment Corporation (PIC).

In a series of tweets, Malema opened a can of worms when he alleged that the chairperson of the PIC, Deputy Finance Minister Sifiso Buthelezi, was using PIC deputy chairman Xolani Mkhwanazi to ensure his sister, Philisiwe Buthelezi (who is married to Arts and Culture Minister Nathi Mthethwa), becomes the new PIC CEO – presumably replacing the embattled Dan Matjila, who complained over the weekend that the forces opposed to him were looking to get their hands on the more than R1.9 trillion, most of it public pension money, that the PIC manages.

He told the Sunday Times: “I’ve got the keys. They’re looking for the keys to the big safe.” He revealed that several requests for transactions that did not meet the PIC’s investment criteria had been made by “politically connected people”.

Malema has now added to the storm.

He also alleged that the PIC was being strong-armed into handing the National Empowerment Fund (NEF) R3billion without following proper processes.

Malema tweeted that Philiwe Buthelezi had “uncontrollable ambition”.

In his last tweet on the matter, presidential hopeful and ANC treasurer-general Zweli Mkhize was dragged into the matter. Malema posed the tantalising question of what Sibu Zulu was doing at the PIC and what her relationship with Mkhize was.

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