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NEHAWU Statement On The Suspension Of The CEO Of The PIC

Tuesday March 26, 2019

The National Education, Health and Allied Workers’ Union [NEHAWU] notes the suspension of the acting Chief Executive Officer [CEO] of the Public Investment Corporation [PIC] for allegedly tempering with the ongoing commission of enquiry into allegations of corruption and financial impropriety at the state assets manager.

As NEHAWU, we view these allegations in a very serious light and must be fully investigated as a matter of urgency while the acting CEO is placed on precautionary suspension by the board. The Mpati commission revealed in February that several witnesses had received death threats. The national union is now more convinced that there is a concerted effort by dark forces that are hell-bent on ensuring that the extent of the rot at the PIC is concealed.

Workers deserve to know who is responsible for pillaging their hard earned pension funds. About 87% of the PIC’s investment funds are public servants’ pensions and about 6% are UIF funds. Therefore, the commission must be allowed to unearth the truth without any interference and hindrances. In this regard, we urge workers at the PIC and elsewhere to come forward to disclose what they know to the commission about corruption in the PIC’s investment deals. We also call on law enforcement agencies to protect those whose lives are threatened for testifying at the commission.

NEHAWU reiterates its call for the Minister of Finance to immediately appoint an interim board that will handle the business of the PIC until a proper board is installed. A thorough vetting and screening process must be undertaken to ensure that we do not put workers’ pension funds at the hands of looters and greedy people who are only concerned with lining their pockets and those closer to them.

The national union is looking forward to the outcomes and recommendations of the Mpati commission and will play a proactive role in ensuring that the PIC ceases bad investment decisions and averts corruption. NEHAWU will continue to demand that workers money be invested in the Government Employee Housing Scheme for public servants rather than being wasted in speculative projects.

Issued by NEHAWU Secretariat

Zola Saphetha (General Secretary) at 082 558 5968;
December Mavuso (Deputy General Secretary) at 082 558 5969;
Khaya Xaba (NEHAWU Media Liaison Officer) at 082 455 2500 or
email: Visit NEHAWU website:

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