FEDUSA Slams Misleading Reporting to Fuel Sensationalism Regarding the PIC

7 May 2019

The Leadership of the Federation of Unions of South Africa (FEDUSA) is deeply disappointed that inaccurate and deliberately misleading reporting has once again been sensationalized in recent reports regarding the alleged interference of trade unions in the business of the Public Investment Corporation (PIC). FEDUSA believes that it is simply disingenuous to create an intentional diversion and perceived linkage of the federation’s interference with the PIC business, when the fundamental issue at hand during the time (September 2017), was the brazen acts by the infamous Gupta family, to try and wrest control of the PIC and lay its hands on billions of Rands in public servants pension funds.

The unprecedented stratagem to raid public servant’s pensions in order to throw life lines to struggling State Owned Enterprises (SOE’s) and to finance toxic political projects patronized by the Guptas could simply not be left unchallenged by FEDUSA, due to the extent of the collective investments made on behalf of the federation’s affiliated members in the public service (in excess of 310 000) through their active contributions to the Government Employee Pension Fund (GEPF).

FEDUSA’s Congress Resolutions, focusing on calling out corruption within the state and private industries is well known. Remaining steadfast to the principles of accountability, and the continued promotion of good and ethical governance, the independent, external investigation undertaken by FEDUSA to determine the veracity of the allegations relating to the acquisition of shares in AYO Technology Systems, by General Secretary Dennis George, remains ongoing. FEDUSA therefore appeals for the space to engage regarding the fundamental aspects of its investigation to ensure that the outcome can be communicated to our affiliates, social partners and the media on its completion.

(290 Words)

For interviews please contact:

Masale Godfrey Selematsela

FEDUSA President

065 652 2832 / 083 653 3021