The Public Investment Corporation (PIC) board has confirmed that it has begun assessing allegations against chief executive Patrick Dlamini after receiving a whistleblower complaint that raises questions about governance, executive authority and conflicts of interest.
“The board has initiated an assessment of the credibility and substance of the allegations in accordance with the applicable frameworks, policies and applicable legal obligations,” said the board.
It added that Dlamini had been afforded an opportunity to respond in accordance with the principles of procedural fairness and natural justice.
The complaint, dated 9 June, was addressed to PIC chairperson David Masondo, deputy chairperson Gloria Serobe, the chairperson of the board’s Social, Ethics and Transformation Committee and the corporation’s whistleblower office. It calls for an independent investigation into Dlamini’s conduct and urges the board to consider placing him on precautionary suspension pending the outcome of any inquiry.
Parmi Natesan, chief executive officer at the Institute of Directors South Africa, told Daily Maverick, “From a governance perspective, a board should ensure that all whistleblower allegations are treated seriously, assessed objectively and investigated independently where warranted.
“Depending on the organisation’s governance structures and the nature of the allegations, the board may utilise one of its committees to assist with oversight of the matter. Where the organisation...
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