Dan Matjila faced tough questions regarding the role he allegedly played in ensuring Kilimanjaro Capital and Sakhumnotho Holdings formed a consortium to secure a 25% stake in Total SA.
“Without the merger both companies stood a real risk of losing the bid as they were both small,” he said. Matjila had previously testified that he was unaware of Sakhumnotho’s interest in the deal and only knew of KiliCap as the preferred bidder. KiliCap received a non-binding letter of expression of interest from the PIC on 2 June 2015.
“What did you mean when you said we may have to persuade them to work together because you have denied before this commission forcing KiliCap to merge with Sakhumnotho?” Monahela asked.
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Government Employees Pension Fund was 'misled' about R4.3bn investmentThe fund that looks after the pensions of 1.7 million current and former public servants was misled by the Public Investment Corporation (PIC) in respect of its R4.3bn investment in Ayo Technology Solutions, an inquiry into the state-owned asset manager heard on Monday.
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