The Democratic Alliance (DA) has said the implication of Minister of Cooperative Governance and Traditional Affairs (Cogta) Zweli Mkhize in the alleged corruption at the public investment corporation (PIC) was evidence that “there is no good” in the governing African National Congress (ANC).
This comes after reports in the media alleged that Mkhize benefited from kickbacks worth R4.5 million for facilitating deals with the PIC.
DA MP Alf Lees said in a statement on Sunday that the allegations levelled against Mkhize were a clear “sign yet of the non-existence of the ‘good ANC’”.
Lees said: “The wholesale looting of the [PIC] by the ANC and its surrogates is clear evidence that the ANC is a haven for the corrupt and President Cyril Ramaphosa’s ‘crusade’ against corruption is a public relations exercise with no real consequences for perpetrators.”
Lees further said that Mkhize was the latest example of high-ranking ANC officials who used their association with the governing party to loot state resources “with impunity”.
“Instead of taking action against his wayward comrades, Ramaphosa has chosen to appease ANC factions by keeping Mkhize, Nomvula Mokonyane, and Bathabile Dlamini in his cabinet.
“ANC malfeasance at the PIC is behind the dearth of good corporate governance at the PIC, which resulted in the en masse resignation of the PIC board on Friday,” Lees said.
The DA MP said the PIC board was failing to exercise its fiduciary duties to the point where it approved dubious investments into companies such as Iqbal Surve’s Ayo Technology Solutions, which obtained a R4.3 billion windfall by withholding key investment information from the PIC.
“It is now up to Tito Mboweni, the minister of finance, to appoint a new board. The new PIC board appointments must be based entirely on merit and must in no way include any ANC-cadre deployees.
“Now, more than ever, it has become vital that the PIC Amendment Bill, introduced by the DA, is dealt with without any delay and must become law before parliament rises for the general elections. The bill provides for a more robust and transparent PIC, gives greater representation for state employees, and enhanced accountability.”
(Compiled by Makhosandile Zulu)