PIC expresses “confidence” in CEO Matjila

Dan Matjila, chief executive at the Public Investment Corporation, has kept his job, the state owned asset manager announced on Friday evening.

Matjila appeared before a board meeting on Friday, to answer allegations, which surfaced in the media, that he had allegedly used PIC funds to support a supposed girlfriend.

But in a statement the PIC’s board said it “expressed its confidence in the ability and integrity of the CEO, Dr Daniel Matjila, management and staff of the PIC”.

“The CEO made representations to the board responding to allegations levelled against him through the media,” the statement said.

“The CEO provided detailed documentary evidence of the decisions made by the PIC and that the process followed was in accordance with all policies, procedures and delegation of authority of the PIC.”


To ensure the “completeness of the process and for its final assurance” the board has asked the PIC’s internal audit division to independently review the representations made by Matila, it said.

On Thursday, the Star newspaper reported that the allegations levelled at Matjila were linked to a plot by the controversial Gupta family to oust Matjila from his post.

But the board said it “rejects these allegations with the contempt they deserve”.

The PIC controls almost R2-trillion in government workers pensions. There has been growing concern that these assets will be used to prop up ailing state owned entities – a number of which are reeling from corruption allegations linked to the Gupta’s. 

Subscribe to the M&G

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

Lynley Donnelly
Lynley Donnelly
Lynley is a senior business reporter at the Mail & Guardian. But she has covered everything from social justice to general news to parliament - with the occasional segue into fashion and arts. She keeps coming to work because she loves stories, especially the kind that help people make sense of their world.

Related stories

More arrests expected in the R2.3bn VBS heist

Prosecutors tell the court that more people will be charged and additional charges will be added to the seven accused in a new charge sheet

Justice department hit by a costly cyberattack

The theft of R10-million from the Guardian’s Fund account prompts the justice department to freeze all accounts until an audit can determine the extent of the damage

Ace pulls diplomatic strings for Steinhoff-linked pal

If the ANC general secretary has his way, Ithala chair Roshan Morar could soon be an ambassador

All agree: Use pension funds

The state wants to increase spending on infrastructure to drive economic recovery, and South Africans’ savings could help foot the bill

ANC wants pension funds to finance infrastructure build

The party released its plan for the reconstruction of the country’s post-coronavirus economy on Friday. This would involve changes to Regulation 28 of the Pension Funds Act

Ayo report: CFO acted in the PIC’s interests

A disciplinary inquiry has cleared Matshepo More of all charges, but she remains suspended
Advertising

Subscribers only

The shame of 40 000 missing education certificates

Graduates are being left in the lurch by a higher education department that is simply unable to deliver the crucial certificates proving their qualifications - in some cases dating back to 1992

The living nightmare of environmental activists who protest mine expansion

Last week Fikile Ntshangase was gunned down as activists fight mining company Tendele’s expansions. Community members tell the M&G about the ‘kill lists’ and the dread they live with every day

More top stories

The high road is in harm reduction

While the restriction of movement curtailed the health services for people who use drugs in some parts of the world, it propelled other countries into finding innovative ways to continue services, a new report reveals

Khaya Sithole: Tsakani Maluleke’s example – and challenge

Shattering the glass ceiling is not enough, the new auditor general must make ‘live’ audits the norm here in SA

State’s wage freeze sparks apoplexy

Public sector unions have cried foul over the government’s plan to freeze wages for three years and have vowed to fight back.

‘Veteran’s stripes’ vs ‘kind and fair’

This weekend the Democratic Alliance will choose between two starkly different visions for its future
Advertising

press releases

Loading latest Press Releases…

The best local and international journalism

handpicked and in your inbox every weekday