[LISTEN] Mondli Gungubele explains why he quit the PIC board

Deputy Finance Minister Mondli Gungubele talks to Bruce Whitfield fromTshwane on Friday evening about the decision to resign from the PIC board along with a number of other board members.

He is one of the nine signatories on a letter addressed to the finance minister asking to be relieved of their duties.

Whitefield asked him why the board felt the need to step down amidst as yet unproven allegations.

In the psychosocial situation, perceptions have real effect whether false or whatever.

He says they acknowledge the number of negative public statements against the PIC and allegations against four board members.

We asked ourselves what impact does have against the institution.

Mondli Gungubele, Deputy Finance Minister

As we take decisions going forward, the credibility of those decisions would suffer, whether the allegations are cleared or not.

Mondli Gungubele, Deputy Finance Minister

We said in the interest of the institution and the country, it would be prudent for us to ask the minister to release us.

Mondli Gungubele, Deputy Finance Minister

These allegations against me are a figment of a whistleblower, and I can tell you when the results come out you will see this decision is in the interests of the PIC.

Mondli Gungubele, Deputy Finance Minister

He explains how resigning will not impact on his role as deputy finance minister.

Listen to what Gungubele has to say:

A letter was released signed by nine directors after a Friday board meeting. Acting CEO Matshepo More was not part of the group resigning.


This article first appeared on 702 : [LISTEN] Mondli Gungubele explains why he quit the PIC board


Recommended

by NEWSROOM AI
Read More
Seanie tells PIC Inquiry Matjila pushed through  R4.3 billion Ayo deal

Seanie tells PIC Inquiry Matjila pushed through R4.3 billion Ayo deal

EWN reporter Gia Nicolaides unpacks Victor Seanie's testimony at the PIC Commission of Inquiry and his concerns about Ayo deal.

It was a strategy to rescue Independent Newspapers – Sam Sole (amaBhungane)

It was a strategy to rescue Independent Newspapers – Sam Sole (amaBhungane)

Iqbal Survé is in trouble. Bruce Whitfield interviews senior investigative journalist Sam Sole and UDM leader Bantu Holomisa.

PIC to investigate one of its directors for corruption

PIC to investigate one of its directors for corruption

EWN reporter Gia Nicolaides says an anonymous email alerted the PIC to investigate its own board member.

Former PIC board member says board believed Gungubele

Former PIC board member says board believed Gungubele

EWN reporter Gia Nicolaides says Manning told the inquiry that the board accepted every explanation Gungubele gave it.

Former PIC boss had corruption case opened against him, inquiry hears

Former PIC boss had corruption case opened against him, inquiry hears

Forensic investigator Frans Lekubo testified about his discoveries while probing the source of malicious reports against Matjila.

Fire the entire PIC board! Buy Ayo shares! - Dennis George (Fedusa)

Fire the entire PIC board! Buy Ayo shares! - Dennis George (Fedusa)

The Money Show’s Bruce Whitfield interviews Dennis George, General Secretary at the Federation of Unions of South Africa (Fedusa).

Investigative journalist explains why PIC 'honey pot' is being probed

Investigative journalist explains why PIC 'honey pot' is being probed

Sam Sole, amaBhungange investigative journalist, explains why the PIC is being probed and its latest move to suspend key members.

[LISTEN] 'Why did the PIC take so long?' - Sikonathi Mantshantsha

[LISTEN] 'Why did the PIC take so long?' - Sikonathi Mantshantsha

Questions have been raised over a preliminary investigation report by the PIC, implicating Head of resources Fidelis Madavo.

'PIC has been questioned many times. Reorganised, we can do better'

'PIC has been questioned many times. Reorganised, we can do better'

The Money Show’s Bruce Whitfield interviews Mondli Gungubele, Chairperson at the Public Investment Corporation.

PIC gives little detail on Madavo's suspension

PIC gives little detail on Madavo's suspension

Head of resources Fidelis Madavo who testified at the commission on Tuesday, has been suspended with immediate effect.

Popular articles
Paramedics fear for their lives as attacks on EMS crews continue

Paramedics fear for their lives as attacks on EMS crews continue

An ambulance crew was held at gunpoint, assaulted and robbed of their belongings while on a call out in Khayelitsha.

How should restaurants handle waiters' tips?

How should restaurants handle waiters' tips?

There is no standard procedure for how restaurants handle the tipping of their staff. The truth is some outlets abuse the system.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.