In another clear indication that the Public Investment Corporation was subjected to wide-scale political interference, its former CEO Dan Matjila admitted to playing a middleman role in referring PIC funding requests from the ANC to prominent business figures.
This started as early as 2005 when was appointed as PIC chief investment officer, a powerful position in which he would oversee investment decisions, until he was appointed as the fund manager’s CEO from 2014 to 2018. Party political funding is not the mandate of the PIC, which manages state workers’ pension funds and social funds such as the Unemployment Insurance Fund.
Instead, he referred these funding requests to prominent business figures, whose entities have received funding from the PIC. These figures included Sipho Mseleku , Lawrence Mulaudzi and Siyanda Resources chairman Lindani Mthwa.
From junior staff to president
Anc with corruption