
Stories by Dewald van Rensburg
Seemingly questionable debts hobbling a poor school in Soweto have found their way into the investment bank’s vast securitisation programme, with apparently scant attention paid to the dubious underlying contracts. This cautionary tale of alleged corruption and opportunism has now resulted in the financial Goliath pursuing a hapless David.
Extracting money from the Public Investment Corporation for dubious projects seems to have been easy - if you were willing to shell out massive "fees" to connected gatekeepers. That’s the implication of the latest investment debacle amaBhungane has uncovered involving the troubled state pension fund manager.