Civil service pensions go down the drain
Government agency secretly wrote off a whopping R1.3 billion of civil servants' retirement funds to prop up biggest ever BEE deal under the watchful eye of CEO Brian Molefe. There can be no way that the PIC saw value in buying its R4.3bn stake and advancing a further R1.7bn to AfriSam.
All that is serious, but not half as serious as the discovery that none of this is reflected in the published annual reports. |