“Mega-Looting” at the PIC: Holomisa Warns R3.5 Trillion in Public Servant Pensions at “Enormous Risk”
A governance crisis of “enormous proportions” is unfolding at South Africa’s Public Investment Corporation (PIC), with United Democratic Movement (UDM) leader Bantu Holomisa issuing a dire warning to President Cyril Ramaphosa that the R3.5 trillion fund—which manages the pensions of millions of public servants—is under severe threat from persistent corruption and mismanagement. In a blistering…









