Democratic Nursing Organisation of South Africa

Media statement

 

Friday, 17 August 2018

 

The Democratic Nursing Organisation of South Africa (DENOSA) welcomes and fully supports the decision by President Cyril Ramaphosa to appoint a Commission of Inquiry into governance and operative model at the Public Investment Corporation (PIC).

 

As an organisation representing nurses in South Africa, majority of whom work for government, it is somewhat giving hope that a deeper look into the affairs at PIC, which manages government employees’ retirement savings, will be looked upon. Recent developments have led to many suspicions, especially when it is not long ago that many government parastatals were under siege through state capture which drained many coffers of public entities.

 

Our concerns with PIC, and the reason for our support of this move by President, are that:

 

-          Many public servants do not own houses and yet PIC still does not see investment into housing public servants as profitable enough, and splurges funds in many shopping centres and malls instead;

 

-          Some investments, such as the one with Steinhoff, have had negative effects on the pensions savings of public servants; and

 

-          Investment with prudence by PIC has left many public servants suspicious about the discipline of PIC to stick to its mandate.

 

DENOSA hopes this process will also lead to PIC investing back into welfare of public servants, in particular the realisation of many public servants’ dream of owning houses.

 

End

 

Issued by the Democratic Nursing Organisation of South Africa (DENOSA)

 

For more information, contact:

 

Cassim Lekhoathi, DENOSA Acting General Secretary

 

Mobile: 082 328 9671

 

Or

 

Simon Hlungwani, DENOSA President

Mobile: 082 328 9635

Website: www.denosa.org.za

 

Facebook: DENOSA National Page

 

Twitter: @DENOSAORG