A whistleblower has escalated the governance crisis at the Public Investment Corporation (PIC) to Parliament, alleging that Finance Minister Enoch Godongwana attempted to interfere in the board's handling of suspended chief executive Patrick Dlamini after directors voted overwhelmingly to suspend him.
The allegations are contained in a notice submitted by the whistleblower to Parliament's Standing Committee on Finance that has been seen by the Mail & Guardian.
Last week, PIC chairperson David Masondo confirmed that the board had voted by nine votes to two to place Dlamini on precautionary suspension pending an investigation into allegations contained in a whistleblower complaint. While declining to identify how individual directors voted, he said robust disagreement was a hallmark of good corporate governance.
According to multiple sources with direct knowledge of the matter, the board's decision was taken despite opposition from Godongwana.
The sources said the Minister subsequently sought to persuade board members to rescind the resolution. The sources said the Minister then warned board members that he would dissolve the board if they did not reverse the decision. Four directors later resigned in protest, the sources said.
According to sources, Lerato Makwetla, Lindy Bodewig, Mpumelo Maseko and Dorothy Kobe have also resigned from the PIC board, bringing the total number of resignations to six. The Mail & Guardian reported last week on the resignations of Thabi...
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