Trade unions 'defenders of the workers' are implicated in PIC corruption - Vavi

The South African Federation of Trade Unions says it is shocked by what is coming out of the commissions happening in the country.

Speaking to Xolani Gwala, the general secretary of Saftu Zwelinzima Vavi says it is demoralising that the trillions of rands that belong to workers are now a target for looters.

We are happy that some workers have been suspended. We are happy that the board has stepped aside and resigned en masse.

Zwelinzima Vavi, General secretary - SA Federation of Trade Unions

READ: What you need to know about the scandal-plagued PIC

What is more surprising this time is to hear how the trade unions themselves, the defenders of those workers, are now implicated.

Zwelinzima Vavi, General secretary - SA Federation of Trade Unions

Vavi says the shares of Ayo were not sold at a discount.

The shares of Ayo were R1.50 and they sold them to the PIC for R43. That is a total rip off and that is cruelty to the first degree, that is corruption.

Zwelinzima Vavi, General secretary - SA Federation of Trade Unions

Listen to the full interview below:


This article first appeared on 702 : Trade unions 'defenders of the workers' are implicated in PIC corruption - Vavi


Recommended

by NEWSROOM AI
Read More
What you need to know about the scandal-plagued PIC

What you need to know about the scandal-plagued PIC

The PIC has nearly R2 trillion of civil servants’ pensions under its custody and is Africa’s biggest pension fund.

PIC board will continue to serve until replacements kick in - Xolani Mkhwanazi

PIC board will continue to serve until replacements kick in - Xolani Mkhwanazi

Former PIC deputy chairperson Xolani Mkhwanazi speaks about the ongoing investigations into the Public Investment Corporation.

PIC board dissolved

PIC board dissolved

'The PIC should be part of the public culture - people should know what is happening with the organisation' says Kagiso Pooe

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

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

Deputy Finance Minister Mondli Gungubele talks to Bruce Whitfield about his decision to resign along with other board members.

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.

Popular articles
'Ramaphosa may have to remove Mrwebi and Jiba by tonight'

'Ramaphosa may have to remove Mrwebi and Jiba by tonight'

Freedom Under Law CEO Nicole Fritz says if the president fails to make a decision overnight, they are free to go back to work

Why Shoprite wants to pay Christo Wiese R3.3 billion

Why Shoprite wants to pay Christo Wiese R3.3 billion

Simon Brown on why is Shoprite wants shareholders to approve paying R3.3bn to Christo Wiese for his high-voting shares.

How to quit your job so you can follow your dream

How to quit your job so you can follow your dream

Ever dreamt of just doing it? You may want a few pointers from someone who did. Meet Callan Williamson of Tortilla Modern Mexican.

Retain body heat with an aluminium foil this winter, advises City of Joburg

Retain body heat with an aluminium foil this winter, advises City of Joburg

Khabazela shares what has kept social media abuzz on What's Gone Viral.

Giant ANC billboard with spelling error has social media in stitches

Giant ANC billboard with spelling error has social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.