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The Chairperson of the Public Investment Corporation (PIC), Dr. David Masondo, welcomes the judgment delivered yesterday by the Johannesburg High Court against Mr. Ralebala Matome Mampeule, a director of Levoca 805 (Levoca).

The Court granted a final interdict against Mr. Mampeule, prohibiting him from disseminating, publishing, or repeating defamatory and injurious allegations of corruption or unethical conduct against Dr. Masondo. The Court also declared that these statements about Dr Masondo are false.

In addition to the interdict, the High Court has ordered Mr. Mampeule to:

• Issue a statement within 24 hours to the many recipients of the defamation, recording that the statements he made are false and were made recklessly; and
• Pay punitive legal costs associated with the legal proceedings.

This ruling follows what appears to be a persistent and unsubstantiated campaign targeted at Dr Masondo and PIC officials. It marks the second instance where the PIC has successfully sought judicial intervention to protect its institutional integrity. 

Dr. Masondo emphasised the broader implications of the order for the institution and its stakeholders: "This judgment transcends personal vindication; it is a victory for the public servants whose pensions and savings we are mandated to protect. Every rand the PIC invests represents the hard work of a public official. When borrowers default on their obligations, it is public servants who bear the cost."

Dr. Masondo further clarified the PIC’s investment philosophy: “The PIC remains committed to support entrepreneurs. There is a legal and moral obligation on beneficiaries of PIC funding, regardless of their colour, gender or geographical origin, to service their debt. The PIC does not provide grants. We invest in businesses to generate sustainable financial returns to the investment portfolios of our clients and to their beneficiaries who, in this instance are public sector workers."

“The PIC maintains a zero-tolerance approach toward attempts to use disinformation to seek to evade financial accountability or undermine the fiduciary duties owed to public sector workers”, Dr Masondo added.

Issued by the Public Investment Corporation