This week the PIC Commission headed by retired Judge Lex Mpati heard testimony from board members and executives who could not provide clear reasons why six other senior individuals had not had any disciplinary action against them.
It is well known that former chief executive Dan Matjila was a central figure in the transaction particularly because he signed the subscription agreement approving the R4.3-billion investment. This was done without due diligence being completed and the requisite committee approving it. Evidence leader advocate Jannie Lubbe asked her why Seanie, the most junior person involved in the transaction, was suspended while other senior officials were not?
On Monday board chair Deputy Minister Mondli Gungubele explained that Madavo and Seanie had been uncooperative in the investigation and the board had decided to put them on the precautionary suspension to protect the investigation.
This is only one deal, most definitely there MUST have been many more .
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AYO responds to Business Day article | IOL Business ReportAYO Technology has responded to the front page article of the Business Day on Tuesday morning.
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Former PIC board member contradicts Gungubele over board resignations | Business | M&G
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