JOHANNESBURG – The Commission of Inquiry into the Public Investment Corporation (PIC) resumes today in Pretoria after a two-week break.
The last time the inquiry was in session, United Democratic Movement (UDM) leader Bantu Holomisa conceded that his testimony at the Public Investment Corporation (PIC) inquiry was based on media reports.
Holomisa faced a grilling from the inquiry’s legal team, the companies and individuals he accused of turning the PIC into their cash cow.
In particular, he was quizzed about the letter he wrote to President Cyril Ramaphosa which formed the basis for the appointment of the commission of inquiry into allegations of wrong-doing at the PIC.
Two weeks ago, Holomisa implicated a “cartel” of politicians, civil servants, investment advisers, asset fund managers and businesspeople.
He named former deputy finance minister and PIC chairperson Jabu Moleketi, PIC director Sibusisiwe Zulu, and businessmen Lawrence Mulaudzi and Tshepo Mahloele, as the key players at the centre of the multibillion-rand self-enrichment spider-web.
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