The allegation that the Minister of Cooperative Government and Traditional Affairs, Dr Zweli Mkhize, received a R4.5 million “kickback” in return for facilitating a R210 million loan from the Public Investment Corporation must be probed by Parliament.
This is just one of several questionable investments made by the Public Investment Corporation, which up until now have included Ayo Technology Solutions Limited, Sagarmatha Technologies Limited, Steinhoff International Holdings N.V. and VBS Mutual Bank.
The fact is that hardly a day goes by without a new scandal surrounding questionable investments emerging at the Public Investment Corporation.
However, the finance committee has proved completely ineffective at probing the questionable investments made by the Public Investment Corporation.
We are prohibited from cross examining senior executives and simply do not receive straight answers to straight questions put to the Public Investment Corporation.
I will, therefore, as a last resort write to the Chairperson of the Standing Committee on Public Accounts, Themba Godi, requesting him to schedule a hearing probing allegations surrounding irregular payments and questionable investments at the Public Investment Corporation.
The hearing should probe the allegation that the Minister of Cooperative Government and Traditional Affairs, Dr Zweli Mkhize, received a R4.5 million “kickback” for facilitating a R210 million loan from the Public Investment Corporation.
However, it should also probe:
- allegations of irregular payments made by the Chief Executive Officer, Dr Dan Matjila, which now appear not to have been investigated thoroughly, following the leaking of an “internal audit” report; and
- questionable investments and loans in inter alia Ayo Technology Solutions Limited, Sagarmatha Technologies Limited, Steinhoff International Holdings N.V. and VBS Mutual Bank.