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Principal executive officer Musa Mabesa says the fund is not looking to have offshore exposure of up to 45%, and has seen strides in the PIC complying with its new mandate. ....
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In the State of the Nation debate of 14 February 2023 in Parliament in the City Hall I had raised the issue of pensions of civil servants and military veterans from the SATBVC states, after which President Cyril Ramaphosa had indicated in his reply that: “The Honourable Holomisa has raised the issue of the pensions of civil servants and military veterans from the TBVC states. These are indeed issues that need to be considered. The Deputy President heads a task team on benefits for military veterans, which has a workstream on pension. I have asked this task team to provide report on this issue. I have further asked the Minister of Finance to set up a team to look into the pensions for civil servants from the TBVC states.” ....
It has come to my attention that there is a pending court case (Case number 2310/2020, in the matter between Karima Abdual Razak Tayob N.O. in her capacity as executrix of the estate of the late Abdul Razak Tayob Surtie, Edward Jeffrey Koornabanally and Public Investment Corporation Limited, Absa Group Limited) in the Western Cape High Court wherein a massive R1,35 trillion is being claimed for payment from the PIC -which has (amongst others) as its client the GEPF- as well as Absa Group Limited. ....