Every year, R10 billion is allegedly stolen from South Africa’s Government Employees Pension Fund (GEPF), the retirement savings of teachers, nurses, police officers, and public servants. Instead of being safeguarded, this money is reportedly funneled into risky, politically connected deals benefiting ANC-linked individuals through cadre deployment.
The Public Investment Corporation (PIC), which manages these funds, is meant to operate independently but has been accused of being a political tool, investing in failing businesses like those tied to businessman Sipho Mseleku, with little financial return. Whistleblowers have faced retaliation, while those responsible evade accountability.
Key Issues:
- Cadre deployment places unqualified but loyal ANC members in key positions, enabling corruption.
- Lack of transparency in PIC investments hides where the money goes.
- No consequences for those responsible, allowing the cycle to continue.
Solutions Proposed:
- Full transparency in PIC investments.
- Protection for whistleblowers.
- Ending cadre deployment in state institutions.
- Supporting investigative journalism to expose corruption.
The Impact: If this theft continues, pensions could shrink, retirees may suffer, and public trust in institutions will collapse. Public pressure and accountability are needed to stop this crisis.
Call to Action: Demand transparency, share this information, and hold the ANC accountable. Will the ANC ever act, or is it too late?
Video by Truth Untold SA
https://www.youtube.com/watch?v=oNkH-e_7468
Video by Willem Petzer