The South African Entrepreneurs Movement (SAEM) has noted with serious concern the latest Sunday Times report on the Public Investment Corporation’s (PIC) handling of the Lanseria Airport transaction. According to the report, a PwC investigation identified several senior executives as key players in the Acapulco/Lanseria transaction, which allegedly resulted in losses exceeding R400 million to the PIC.

The South African Entrepreneurs Movement (SAEM) notes with serious concern recent reports indicating that provisions of the Public Investment Corporation (PIC) Amendment Act may frustrate the implementation of important recommendations made by the Judicial Commission of Inquiry into Allegations of Impropriety at the PIC, chaired by Justice Lex Mpati.

The South African Entrepreneurs Movement (SAEM) stands in solidarity with the young entrepreneurs, creatives and professionals from Gauteng’s film industry who have peacefully raised concerns about unemployment, exclusion from economic opportunities and limited access to the province’s creative economy.

The South African Entrepreneurs Movement (SAEM) welcomes the announcement by the Financial Sector Conduct Authority (FSCA) that it has launched an investigation into the Public Investment Corporation (PIC). According to public reports, the FSCA indicated that it is concerned about governance, leadership stability and transparency at the PIC and intends to investigate under its statutory powers. PIC directors quit as instability takes hold at govt asset manager – News24

The South African Entrepreneurs Movement (SAEM) welcomes the decision by the Board of the Public Investment Corporation (PIC) to place its Chief Executive Officer on precautionary suspension pending an independent investigation into allegations raised through the institution’s whistleblower processes. The Board has emphasised that the suspension is precautionary and does not constitute a finding of wrongdoing, while the investigation proceeds.

The South African Entrepreneurs Movement (SAEM) strongly condemns the continued unannounced water disruptions affecting communities across Johannesburg and other parts of South Africa. Basic services are a constitutional expectation, and residents and businesses deserve reliable communication and swift responses when infrastructure failures occur.