The Congress of South African Trade Unions (COSATU) calls upon politicians to allow the Public Investment Corporation’s (PIC) Board to complete its oversight role without fear, favour or interference. We have noted with deep concern the whistleblower report containing allegations against the PIC’s suspended Chief Executive Officer, Mr. Patrick Dlamini, with regards to its investments in Acapulco and Lanseria Airport.
It is essential that every allegation of misconduct or maladministration be subjected to an independent, transparent and impartial investigation. Equally, the principles of natural justice and due process require that no individual should be presumed guilty before the relevant processes have been concluded.
COSATU is deeply disturbed by whistleblower allegations of attempts by politicians to interfere in these investigations and the PIC’s governance and investments. We are equally concerned by calls and attempts by various politicians inside Parliament and government to disband the PIC Board. The dangers of these premature moves are that they may seek to deliberately collapse the investigations into the Acapulco and other investments. At best these calls are naïve, at worse they are a deeply worrying state capture 2.0.
The Board has a fiduciary duty to ensure that whistleblower allegations are handled professionally, objectively and without fear, favour or prejudice. It must be afforded the opportunity to discharge this responsibility in accordance with the law and established governance processes. This must happen without interference from politicians, irrespective of which position they may hold and which party they may represent.
We welcome the Board’s referral of the Acapulco investments to the Special Investigations Unit (SIU). We urge President Cyril Ramaphosa to swiftly issue a proclamation tasking the SIU with the support of the Hawks and the Auditor-General to undertake a comprehensive investigation of all PIC investments. This is key to ensuring the ugly cancer of corruption and state capture is exorcised from it and to assure millions of workers and pensioners that their hard-earned monies are safe.
The PIC needs to ensure that it is in compliance with the PIC Act at all times, in particular by disclosing all relevant information with regards to its listed and unlisted investments. Such information as per the PIC Act must be available on its website and in its Annual Reports. This is key to ensuring all PIC investments are made in compliance with its investment mandate and can be subjected to public scrutiny.
Government is obliged to ensure whistleblowers, who play an essential role in promoting accountability and exposing alleged wrongdoing, are fully protected. We have all too often seen the risks undertaken by patriotic public servants and the dangers they face as a consequence.
Workers and pensioners whose monies are entrusted to the PIC deserve governance that is transparent, accountable and credible. These objectives are best served by allowing due process to take its course rather than interrupting it through premature attempts to collapse the Board. We urge all parties to respect the rule of law and allow investigations to proceed without disruption to their conclusion in the interests of justice, institutional stability and public confidence.
Issued by COSATU
Matthew Parks (COSATU Parliamentary Coordinator)
Mobile: 082 785 0687
Email: matthew@cosatu.org.za