The DA has lodged a formal complaint with the Information Regulator against the Public Investment Corporation (PIC) for failing to release critical public documents.

DA Deputy Spokesperson on Appropriations Andrew Bateman, declared that no State-owned entity should be permitted to shield public records from public scrutiny.

The dispute centers on two vital documents: the Mokgoro Report and the PIC’s final implementation report regarding the recommendations of the Mpati Commission.

Despite a lawful application submitted last year under the Promotion of Access to Information Act (PAIA), the PIC has allegedly refused to surrender the documents, keeping them hidden and concealed in direct violation of statutory requirements.

The roots of the controversy stretch back to 2020 when the landmark Mpati Commission of Inquiry uncovered serious corporate governance failures, deep-seated conflicts of interest and severe weaknesses in investment oversight.

The commission also uncovered alleged widespread misconduct by high-ranking PIC officials and their financial counterparties.

In response to these damning findings, the PIC established an independent advisory panel. The panel was chaired by the late retired Constitutional Court Justice Yvonne Mokgoro and tasked with assessing and reporting on how effectively the PIC was implementing the commission's recommended reforms.

Bateman heavily emphasised that these hidden documents carry immense public interest. The PIC is responsible for managing roughly R3-trillion in assets primarily on behalf of the Government Employees Pension Fund.

This massive fund directly impacts the financial security of over 1.2-million active government workers, roughly 565 000 pensioners and hundreds of thousands of dependant beneficiaries.

"There are important Mpati reforms which have not been implemented, and to date, there has been scant accountability for those responsible for the alleged abuses. Without transparency, reform, and accountability, the wrongdoing could continue indefinitely,” said Bateman.

The DA maintains that when a State body unlawfully ignores PAIA protocols, the Information Regulator must step in to enforce transparency.

The party reiterated its commitment to ensuring all Mpati Commission reforms are fully executed to safeguard State pensioners from the fallout of reckless investments and poor institutional decision-making.