Public Funding Company (PIC) chief govt Patrick Dlamini has been positioned on precautionary suspension after the board resolved to invoke its whistleblower coverage whereas allegations of impropriety towards him are investigated.
The choice follows weeks of scrutiny of the PIC’s governance, throughout which the Mail & Guardianrevealed the existence of a whistleblower grievance towards Dlamini, printed a confidential PwC forensic report into the Lanseria Airport matter, and reported on businessman Kagiso Matjila’s R900 million Excessive Court docket damages declare towards Dlamini over the appointment of PwC to research the dispute.
In a press release issued on Monday, the board stated it had resolved to position Dlamini on precautionary suspension according to the PIC’s whistleblower coverage. It stated the choice would give him “enough house and time” to reply to allegations contained in a whistleblower report submitted to the board final month, whereas guaranteeing “a good, goal and unbiased investigation”.
The board stated the suspension “doesn’t, in any means, represent a discovering neither is it a pronouncement of any wrongdoing” on Dlamini’s half. It added that it was finalising interim preparations for the place of performing chief govt and would make an additional announcement sooner or later.
The board additionally resolved that August van Heerden would stop serving as performing chief funding officer after bearing in mind a decision by the Authorities Workers Pension Fund (GEPF), the PIC’s largest shopper.
Leon Smit, the PIC’s head of mounted earnings in listed investments, has been appointed performing chief funding officer. He joined the PIC in 2000 and has beforehand served in performing CIO roles.
The board stated it remained dedicated to the best requirements of governance and institutional integrity.
