South Africa’s deputy finance minister denies corruption allegations at pension fund

Mondli Gungubele

South Africa’s deputy finance minister on Wednesday denied corruption allegations linked to the country’s pension fund.

Mondli Gungubele – who is also the chairman of the state-owned Public Investment Corporation (PIC) – said he had done nothing wrong after a whistleblower made the new allegations.

“I am confident I have done nothing wrong,” he said in a statement.

The PIC, which has nearly 2 trillion rand of civil servants’ pensions under its custody, said earlier on Wednesday it was conducting an investigation into allegations made against its acting CEO and two of its board members.

Gungubele said in his statement that he welcomed a move by the PIC board members to investigate the allegations.