Former Public Investment Corporation (PIC) board member Sibusisiwe Zulu says the reputation of many executive directors at the Corporation have been destroyed as a result of the anonymous James Nogu e-mails. Zulu, who was testifying at the Commission of Inquiry into the PIC in Pretoria, says the allegations leveled against her were malicious and without fact.

According to allegations contained in the Nogu e-mails, businessman Laurence Mulaudzi had secured a number of deals from the PIC because of his love relationship with Zulu. She has denied this.

“Because of this unknown James Nogu, we have been subjected to inaccurate media reports and slanderous social media posts with the narrative that we are corrupt and syphoned hundreds of millions of pensioner’s funds. To date, we do not know where these bogus allegations emanated from.”

A lifestyle audit conducted by PricewaterhouseCoopers (PwC) into five former officials at the PIC found no evidence of criminal conduct.

Former CEO Dr Dan Matjila, former board chair Mondli Gungubele, former PIC board members Zulu and Dudu Hlatshwayo, as well as former chief financial officer Matshepo More; were investigated earlier in 2019.

Evidence leader at the PIC probe, Jannie Lubbe has briefed the commission on the outcomes of PwC’s audit report. Lubbe told the commission all those implicated cooperated in the investigation voluntarily and that the findings showed no indication of any criminal conduct as suggested by the James Nogu e-mails.