Gungubele confident PIC probe will clear him

Thursday, January 31, 2019

Deputy Finance Minister Mondli Gungubele has welcomed the Public Investment Corporation’s (PIC) board decision to investigate allegations of impropriety against him.

Gungubele, who chairs the PIC, said he is confident the probe will clear him as he has done nothing wrong.

On Wednesday, the Finance Ministry issued a statement in response to calls by journalists seeking comment from Gungubele regarding allegations that emerged during the ongoing Commission of Inquiry into dealings at the PIC.

“I have noted the decision by my fellow board members to investigate the allegations against me contained in an email circulated this week by a ‘whistle-blower’. I welcome the opportunity to clear this matter once and for all. However, I am confident that I have done nothing wrong,” said Gungubele in the statement.

Earlier in the day, the PIC issued a statement saying the board had on Tuesday taken a decision to investigate two of its members.

“Having received an e-mail from an anonymous whistle blower, James Noko, regarding allegations of impropriety that implicate two Non-Executive Directors of the PIC Board and the Acting Chief Executive Officer, the Board held a special Board meeting on Tuesday evening, 29 January 2019, given the seriousness of the matter.

“Following the recusal of the three affected Board members, the Board meeting was chaired by the Deputy Chairman, Dr Xolani Mkhwanazi. At the meeting, it was resolved to immediately conduct a forensic investigation into these allegations,” the PIC said in the statement.

The board said it will engage the services of an experienced Senior Counsel to assist the board with the investigation. –