President Cyril Ramaphosa today appointed a commission of inquiry into allegations of impropriety regarding the Public Investment Corporation (PIC).
In the Government Gazette, Ramaphosa said former president of the Supreme Court of Appeal, Justice Lex Mpati, will be the inquiry’s commissioner assisted by former Reserve Bank governor Gill Marcus, and veteran asset manager, Emmanuel Lediga.
“In terms of section 84(2)(f) of the Constitution of the Republic of South Africa, 1996, I hereby appoint a Commission of Inquiry into allegations of impropriety regarding the Public Investment Corporation (PIC) with the terms of reference attached in the Schedule hereto and appoint Honourable Mr Justice Lex Mpati, the former President of the Supreme Court of Appeal who has been discharged from active service as Commissioner, assisted by Ms Gill Marcus and Mr Emmanuel Lediga,” Ramaphosa said.
The PIC is the biggest asset manager in Africa and manages almost R2 trillion in government pension and other funds.
– African News Agency (ANA)