Gigaba: We are under pressure from people with agendas

Briefing the media in Pretoria, Gigaba said: "All of us in our work as government and those who work in state-owned companies will from time to time come under undue pressure from all sorts of people in pursuit of various agendas. It's our responsibility to ensure at all times that we observe good corporate governance."

Gigaba was briefing the media alongside the Public Investment Corporation (PIC) on Tuesday. 

The briefing follows reports that Treasury is planning to use some R100 billion in government pension funds to bail out cash stripped SOE's, including South African Airways (SAA). 

Gigaba said he believes there was a ploy to involve him in PIC board matters. 

"The first time I heard of a special board meeting which was to be on the 15th of September. I heard it from somebody who sent me a message asking me to intervene and stop that meeting. My response to him was that it was not within my power to do so." 

He says if he had intervened, he would have undermined corporate governance and the PIC's board. 

When asked who sent this SMS, Gigaba said the message came from a cell phone number but would not confirm who was behind it. 

He revealed that board members have also been placed under pressure. 

"You cannot be in a position to preclude anybody from sending you a text or even calling you. And all the board members will say they have from time to time been called by people seeking this thing or that thing. But everything must be subjected to corporate governance."

Treasury's director general, Dondo Mogajanem and the PIC CEO, Daniel Matjila, say they have been in communication regarding a bailout for SAA, but no concrete decision has been made. 

Deputy finance minister Sfiso Buthelezi, who is also the chairperson of the PIC board, used the opportunity to give an undertaking that pension holders' funds will not be tampered with.