PIC did not invest in Nene Jr’s business, Matjila says | Business | M&G

, the son of former finance minister Nhlanhla Nene, according to the state asset manager’s former chief executive, Dan Matjila.

On Tuesday, he told the commission probing, among others, governance failures at the PIC that the PIC merely paid facilitation fees to Siyabonga Nene and Mizra for the deal as this was “common and standard practice to do in the investment industry”. Matjila testified that the PIC had paid facilitation fees to Mizra’s newly formed company, Zaid International Trade, which had registered a bank account in the United Arab Emirates.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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Matjila grilled on merger between KiliCap and Sakhumnotho at PIC commissionDan 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.
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The finance minister, his son and the Mozambican refinery | News | National | M&GRECAP: Siyabonga Nene asked the PIC to finance a huge investment in Mozambique. He didn’t get that for himself, but the state-owned fund manager appears to have bent over backwards to help his business partner.
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