BREAKING NEWS: PIC board offer to resign after damning corruption claims


Steve Motale

JOHANNESBURG – All nine board members of the Public Investment Corporation(PIC), including board chair and deputy finance minister Mondli Gungubele have written a letter to Finance Minister Tito Mboweni asking to be released from their positions.

Their letter follows a string of damaging allegations of corruption by a whistleblower James Noko against several members of the board including Gungubele himself.

In another explosive email which has been circulated widely, Noko dropped a bombshell when he claimed ANC treasurer General Paul Mashatile was a beneficiary of a multi-billion rand deal, Karan Beef in which the PIC had invested.

Africa News 24-7 sent questions to Mashatile, however he failed to reply

Click here to see the PIC board members’s resignation letter to Mboweni:

*This is a developing story