Tshepo Mahloele tells inquiry there is no evidence to support Bantu Holomisa’s claims of fleecing of the state-owned entity
Harith General Partners chair Jabu Moleketi. Picture: BUSINESS DAY
CEO Tshepo Mahloele spent most of Tuesday in the witness stand at the commission of inquiry into the affairs of the Public Investment Corporation describing the founding, funding and operation of the Pan African Infrastructure Development Fund and Harith Fund Managers. Mahloele resigned from the PIC in 2006 to lead the initiative and, by September 2007, the PAIDF had secured commitments of $625m. Of this, $250m came directly from the Government Employees Pension Fund .
Evidence leader Jannie Lubbe produced a recent legal opinion based on the scrutiny of Harith’s founding documents stating that the GEPF should have been the shareholder in the place of the PIC.“There was a total falling-out in our relationship with the PIC. They even started to invest directly into Africa,” said Mahloele in response to Lubbe’s question about the deterioration in the relationship.
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