Ex-PIC boss Dan Matjila was 'dictatorial', says former analyst in R4.3bn court case | Business

A former analyst at state-owned asset manager, the Public Investment Corporation , has told a high court that the group's former head Dan Matjila acted like a"dictator" and bullied staff.

Former PIC assistant portfolio manager Victor Seanie was giving evidence in the Western Cape High Court for a third day during the PIC's bid to recoup R4.3 billion - plus interest - from IT group AYO. "I knew the CEO was dominant and bullied people," said Seanie, a witness for the defence."He ran the PIC like his own small business."Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PIC vs Survé-linked AYO: R4.3bn deal was signed before due diligence was complete - ex-analyst | BusinessThe Western Cape High Court has heard that analysts at the Public Investment Corporation were still conducting due diligence on a proposal to buy shares in IT group AYO in late 2017 when they heard that then-CEO Dan Matjila had signed the deal. They need to hold him personally responsible for the losses. His assets must be confiscated. PIC and the Unions must convey a message to its office bearers crime doesn't pay. Iqbal needs to go to jail
Source: News24 - 🏆 4. / 80 Read more »

Daily Investor – Where South Africans get their investment newsDaily Investor is the South African investment community’s preferred news source.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Security challenges cast shadow on infrastructure investment drive, says FitchProblems such as organised crime undermine regulatory changes intended to boost investment
Source: BDliveSA - 🏆 12. / 63 Read more »

HILARY JOFFE: S&P downgrade adds to SA’s woes and will hit investmentThe credit ratings agency has ended a stretch of relative ratings stability for SA Unemployment and cost of living will keep rising , with social disintegration and upheaval rising to levels of revolution and destruction not foreseen before.
Source: BDliveSA - 🏆 12. / 63 Read more »