Deputy Minister of Finance Mondli Gungubele has denied allegations that he was complicit in the corruption that took place at the Public Investment Corporation (PIC).
Gungubele and other board members are accused by a whistleblower of turning a blind eye at what was happening at the PIC.
The PIC is the biggest asset manager in Africa and manages almost R2 trillion in government pensions and other funds. It is currently facing a judicial inquiry on corporate governance after allegations that former chief executive Dan Matjila misused funds and made careless investment decisions.
Gungubele says there is no basis for the allegations leveled against him and the board.
“The challenge the board was faced on Friday was to choose between two roads, combine them in pursuit of clearing our names, a duration we don’t know, or coming to terms with the fact that because of a number of things including implicating our names that the institution is being battered. Save the institution, stay aside, continue to deal with the ego trip. We chose the latter because we said our ego-trips is not as important as leaving this institution. So we opted to get outside and subject ourselves to whatever investigations. I cant wait to be called to hear – it’s a figment I can tell you now.”
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