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Scheme involved senior management, including suspended CEO and acting CFO. 11:50
Daybreak is one of SAâs leading poultry producers, processing 1.4m birds a week. Its owners include the UIF and the GEPF. Image: Shutterstock
A forensic investigation into allegations of misconduct against suspended Daybreak Farms CEO Boas Seruwe has uncovered how he and other senior managers at the company were involved in a network of companies to siphon off millions of rands out of Daybreakâs accounts.
The details of the scheme are contained in a 430-page forensic investigation report titled Fox in a Chicken Coop. The investigation was conducted by business advisory firm Schaefer Schmidt following Seruweâs suspension in February.
PIC appoints independent joint venture to dispose of 70 GEPF properties Real estate services firms JLL and the Empact Group will oversee the sale of properties to the private sector 29 April 2021 - 07:38 Sponsored Image: Supplied
The Public Investment Corporation (PIC) has announced a strategic decision to optimise the Government Employees Pension Fund (GEPF) property portfolio. It has identified about 70 assets that fall outside its investment criteria that it wants to dispose of in 2021, and has appointed a joint venture (JV) between JLL and the Empact Group to broker the sale of these properties in tranches.
The portfolio comprises mostly small and noncore assets. This is the first time the PIC has appointed commercial agents to broker the sale of GEPF properties to the private sector. These properties are investment grade and are made up of a basket of asset classes, which include retail, industrial and commercial, as well as specialised classes suc
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The Special Investigating Unit (SIU) has successfully instituted civil proceedings in the Special Tribunal to reinstate an order freezing pension benefits of the former Department of Agriculture Chief Financial Officer.
Special Investigating Unit spokesperson Kaizer Kganyago said the
SIU had approached the Special Tribunal to reinstate an interdict barring the Government Employees Pension Fund (GEPF) from releasing the pension benefits of Jacob Basil Hlatshwayo after the initial order lapsed.
“The Special Tribunal on Wednesday, 14 April 2021 interdicted GEPF from releasing pension benefits due to Mr. Hlatshwayo. The SIU investigations in the awarding of a Personal Protective Equipment contract in the Department uncovered that Mr Hlatshwayo was allegedly implicated in the irregular and unlawful award of a contract to the value of R11.5 million,” he said.
Fired Department of Agriculture CFO Jacob Basil Hlatshwayo s pension benefits have been frozen.
Hlatshwayo was implicated in the irregular and unlawful awarding of an R11.5m contract for personal protective equipment.
The department fired him in October 2020 in an unrelated matter.
Jacob Basil Hlatshwayo, a former Department of Agriculture chief financial officer, will have to wait a while longer before getting his hands on his pension payout after the Special Investigating Unit (SIU) successfully instituted civil proceedings in the Special Tribunal to reinstate an order freezing his pension benefits.
The SIU approached the Special Tribunal to reinstate an interdict barring the Government Employees Pension Fund from giving Hlatshwayo his payout after the initial order lapsed in December.