We welcome the news that President Cyril Ramaphosa has appointed a Commission of Inquiry, in terms of Section 84(2)(f) of the Constitution, into allegations of impropriety at the Public Investment Corporation.
However, the terms of reference limit the scope of the inquiry to the period between 01 January 2015 and 31 August 2018, which may have the effect of excluding a number of the questionable investments from scrutiny, including the investment in Independent Media, which was concluded on 16 August 2013, by the Public Investment Corporation.
We think there are few things that will terrify the governing party more than a full-scale independent inquiry into the Public Investment Corporation.