South Africa: Updated - Holomisa Objects to Irene Charnley Being On the PIC Board

analysis

In a letter to Finance Minister Tito Mboweni, United Democratic Movement leader, Bantu Holomisa, raises questions around the appointment of former trade unionist and businesswoman Irene Charnley to the interim board of the Public Investment Corporation (PIC). Holomisa said Charnley is a former beneficiary of the PIC's funding initiatives, making her ineligible to serve as a board member.

It has been more than two months since the 995-page report of the Commission of Inquiry into allegations of impropriety at the PIC -- led by retired Supreme Court of Appeal judge Lex Mpati -- was released to the public.

Since then, politicians, the public and the press have delved into the details of the report including questionable multi-billion rand deals that have compromised the PIC's governance processes over many years.

But United Democratic Movement leader, Bantu Holomisa, has raised further questions around the PIC's governance affairs and independence -- or the lack thereof -- relating to a member of the interim board, Irene Charnley.

On Wednesday 3 June, Holomisa wrote a letter to Finance Minister Tito Mboweni accusing Charnley of being a beneficiary of PIC funding, making her ineligible to serve as a board member.

Charnley and 14 other individuals were...

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