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

1 February 2019 9:41 PM

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.