These are the wise people but who then are the fools? The fools are those who want to use the money, wisely stored up by working and pensioner members, to gulp it down on wasteful projects such as investments in AYO Technology Solutions amongst others.
We welcome the ruling by the Companies and Intellectual Property Commission, CIPC that the PIC must recover the R 4,3 billion plus interest irregularly invested in AYO Technology Solutions. We hope that the money has not already been spent lavishly and will not be recoverable, and now to borrow from Homer's Odyssey.
The ANC sponsored committee bill to amend the Public Investment Corporation Act is likely a Trojan horse that is the prelude to the introduction of prescribed assets by the ANC.
The offending clause in the PIC Amendment Bill states that the PIC must seek to invest in what on the surface would seem to be nice heart-warming projects, such as