PIC’s disclosure of 'unlisted investments' welcomed – David Maynier

DA MP says latest disclosure is more comprehensive than that of last year

DA welcomes PIC’s disclosure of “unlisted investments" to Parliament

18 October 2017

We welcome the decision by Dr Dan Matjila, Chief Executive Officer of the Public Investment Corporation, to disclose detailed information about its "unlisted investments" for the 2016/17 Financial Year.

This is the second disclosure of information about the “unlisted investments” following our campaign for greater transparency by the Public Investment Corporation.

The Public Investment Corporation’s disclosure is more comprehensive than last year and includes information about the lead sponsor, drawdowns from inception and the social impact of all its “unlisted investments” in the 2016/17 Financial Year.

However, there is no legal requirement for the Public Investment Corporation to disclose information about its unlisted investments.

That is why we have proposed a Private Members Bill to amend the Public Investment Corporation Act (No. 23 of 2004) to compel the corporation to disclose detailed information about all of its investment annually to Parliament.

Issued by David MaynierDA Shadow Minister of Finance, 18 October 2017