Thursday, 08 September
The Commission for Conciliation, Mediation and Arbitration (CCMA) has ordered that the axed former chief financial officer of the Public Investment Corporation be reinstated.
The PIC, which manages the pension fund investments of SA’s civil servants, dismissed its CFO Matshepo More in October last year after an investigation found she had neglected her duties. She had been suspended in 2019.
The asset manager investigated More for signing a memo approving a R4.3 billion transaction involving Iqbal Survé’s AYO Technology in 2017 – before the group’s management committee could approve it.
Following her dismissal, she approached the CCMA for relief.
The asset manager said on Wednesday that the dispute resolution body had now ruled that More should be reinstated to her former position, without providing further details.
“The PIC Board is considering the arbitration award and will take advice on the way forward in this regard,” it said.
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