- The former chief executive of the Public Investment Corporation, Dan Matjila, will be appearing before the Commission of Inquiry into the asset manager
- This signals that the end is nearing for the Inquiry, which is investigating alleged impropriety within the entity
- Matjila claims that he was removed from the position to allow for politically connected individuals to influence investment decisions
Dr Dan Matjila is set to testify before the PIC Inquiry, signalling that the Commission is drawing to a close.
The former chief executive of the asset manager is expected to explain how he was pressured into deals that went against the entity's policies, as per his prepared statement.
President Cyril Ramaphosa has charged the inquiry with looking into the entity, following e-mails implicating powerful members of the PIC board, including ex-deputy finance minister, Mondli Gungubele.
Non-executive director, Sibusiswe Zulu, and love interest, Lawrence Mulaudzi, who reportedly benefited through transactions involving Zulu, were also implicated, reports IOL.
UDM leader Bantu Holomisa urged the Inquiry to look into allegations made by a whistleblower against Mulaudzi and why gaining access to PIC funds had been so easy:
“The alleged common role-player, in this and the Project Atlas deal, is Mr Mulaudzi. We think you would be wise to inquire what his role had been in both deals, whether he received transactional incentives and most importantly if all the allegations are true, why it seems so easy for Mr Mulaudzi to gain access to PIC funding."
While the claims put forward by Matjila are considered serious, nothing has proven he personally benefited from the allegedly illicit dealings.
The former chief executive has been lauded as responsible for the entity's success over the past decade, and is expected to respond to accusations on VBS Mutual Bank, Steinhoff International and other questionable companies.
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