PIC Denies Ever Funding Takatso Consortium’s Takeover Of South African Airways

THE Public Investment Corporation (PIC) has dismissed media reports and comments by some public figures insinuating that PIC funds will be used for the acquisition of a 51% stake in the South African Airways.

The fund manager, which managers civil servants pensions on behalf of the Government Employees Pension Fund (GEPF), confirmed on Monday that though it owns 30% of Harith General Partners, which makes up half of the Takatso consortium, it is not involved in the acquisition of SAA.

The acquisition of SAA by Takasto has raised eyebrows from various parties, including labour unions and opposition parties, which have questioned whether the government paid for the airline using public servants pension money considering the historical links between the PIC and Harith.

Parties have also raised concerns about the involvement of politically exposed individuals like former deputy minister of Finance Jabu Moleketi and ANC heavyweight Popo Molefe, who are part