#PICInquiry: Matjila bears no grudges against Gungubele and Holomisa | IOL Business Report

JOHANNESBURG – Former Public Investment Corporation chief executive, Dr Dan Matjila, has told the Mpati Commission of Inquiry that he bears no grudges against former Deputy Finance Minister and PIC chairman, Mondli Gungubele or, United Democratic Movement leader, Bantu Holomisa.

The commission also questioned Matjila on his encounters with UDM leader Bantu Holomisa, but he highlighted that he only knew him as a political party leader and for his interests in the PIC, which he says intrigued and equally concerned him. At a meeting held at Gungubele’s office at Treasury in June last year, Matjila said he sought to outline the PIC's strategic issues, address attacks on the PIC, discuss the MST transaction, plus propose that he call for an urgent board meeting and arrange a proper induction for all members but, these requests were ignored.

Matjila said while it took Gungubele six months after he was appointed in the office to finally conduct an induction, the events that unfolded were" an example of how governance is failing at the PIC," adding, the current paralysis at the asset manager has significant implications for the economy. Matjila also shed light on the fact that bonus payments were not paid on time, resulting in employees being resentful, further saying that responses on investigations conducted by the office of the Public Protector were delayed and deadlines missed and, that generally, "the level of administration was appalling when it came to PIC affairs."

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