Matjila says he was at odds with PIC board, Gordhan over investment in CFR Pharmaceuticals - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 10/7/2019 1:56 am
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Matjila says he was at odds with PIC board, Gordhan over investment in CFR Pharmaceuticals

Former Chief Executive Officer of the Public Investment Corporation Dan Matjila says he was at loggerheads with the board and the former Finance Minister Pravin Gordhan regarding his refusal to invest in a Chilean drug manufacturing company, CFR Pharmaceuticals.

He says in 2014 CFR was to acquire a 24% stake from Adcock – the biggest ARV supplier in the country which the PIC also had a stake in.“The issues that were going to be tested and people who were going to be interviewed made it clear to me this was more a personal vendetta than just a governance review. And I had a strong belief if it was a governance review, it would have involved executive directors to assist in driving this process, if it was done transparently.

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