Former Public Investment Corporation chief executive Dan Matjila yesterday laid bare the machinations that governed the asset manager's funding programmes in the last few years of his reign, telling Judge Lex Mpati’s Commission of Inquiry how the politically connected tried to strong-arm the corporation for funding.
“There was an overt expectation of funding, and I was aware that the PIC had been targeted in SAA’s rescue plan as potentially providing funding. I informed Ms Myeni that the PIC would first have to go through with the mandatory necessary investment investigations and processes, with which she seemed clearly unhappy.”
He said once former deputy finance minister and former PIC chairperson Sfiso Buthelezi joined the National Treasury in 2017, the NEF came back with the R3bn proposal. Matjila accused former executive head of risk Paul Magula of watering down the risk report to favour the approval of NEF’s application after the first one failed to meet the test. “There was a period of only three months between his initial and second reports, and in this period of time nothing had changed operationally at the NEF.”
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#PICInquiry: I had to put out fires after the Nogu emails - Matjila | IOL Business ReportPICInquiry: Former PIC CEO, Dr Dan Matjila told the commission how he had to put out fires around allegations contained in an email sent by whistle-blower James Nogu. busrep busrep Those Buthelezi siblings may have somethings to answer for.
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#PICInquiry: Matjila bears no grudges against Gungubele and Holomisa | IOL Business ReportDan Matjila was responding to questions regarding tensions that had been visible between him and Mondli Gungubele and Bantu Holomisa.
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#PICInquiry: Dan Matjila rejects Holomisa's VBS loan allegations | IOL Business ReportPICInquiry: Advocate Alex Roelofse that the claims in Bantu Holomisa’s letter did not gel with a PricewaterhouseCoopers report on a lifestyle audit conducted on Dr Matjila. busrep
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#PICInquiry: I was accused of blocking foreign direct investment into SA - Matjila | IOL Business ReportMatjila told the PIC Inquiry on Tuesday that he was accused of blocking foreign direct investment into the country.
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Business Maverick: PIC Inquiry: Dan Matjila – The funding middleman between the ANC and PIC beneficiariesThe former Public Investment Corporation CEO says he was asked in 2016 by the ANC’s then-treasurer general Zweli Mkhize to release funding from the PIC to support the party’s January 8 celebrations. Matjila referred Mkhize to prominent business figures who had received funding from the PIC. From junior staff to president Anc with corruption
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