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Dan Matjila

Sagarmatha offered PIC cut-price deal, inquiry hears
Article
/ 15 March 2019

Sagarmatha offered PIC cut-price deal, inquiry hears

When asked whether this was ethical, Lebogang Molebatsi said, unless the arrangement was disclosed to other shareholders, “it would not be correct”.

By Tebogo Tshwane
PIC liquidated stocks to finance R4.3bn Ayo investment
Article
/ 12 March 2019

PIC liquidated stocks to finance R4.3bn Ayo investment

Former chief executive Dan Matjila is alleged to have instructed the liquidation of stocks to settle the subscription of Ayo shares

By Tebogo Tshwane
Former PIC executive denies wrongdoing in VBS looting
Article
/ 11 March 2019

Former PIC executive denies wrongdoing in VBS looting

Paul Magula was dismissed by the PIC in April 2018 for poor performance and failing to protect the PIC from risk and financial loss at VBS

By Tebogo Tshwane
PIC going after R4.3-billion paid to Ayo
Article
/ 11 March 2019

PIC going after R4.3-billion paid to Ayo

The Public Investment Corporation (PIC) has distanced itself from any notion that it is working with Ayo Technology Solutions

By Tebogo Tshwane
Matjila on a witch-hunt
Article
/ 8 March 2019

Matjila on a witch-hunt

The inquiry into the PIC has heard that the parastatal’s head contravened laws in his bid to expose a whistle-blower

By Tebogo Tshwane
Disgraced PIC executive wants job back
Article
/ 6 March 2019

Disgraced PIC executive wants job back

​A former Public Investment Corporation executive who was given over R7-million to leave the organisation says she wants her job back

By Tebogo Tshwane
‘Indispensable’ More pushed IT head out of PIC
Article
/ 5 March 2019

‘Indispensable’ More pushed IT head out of PIC

According to the former IT head at the PIC, his work life started to take strain due to an unresolved conflict between him and More

By Tebogo Tshwane
PIC CEO has too much power, inquiry hears
Article
/ 5 March 2019

PIC CEO has too much power, inquiry hears

The merger of the CEO and the chief investment officer roles at the PIC is a centralisation of power that exposes the PIC to huge risk

By Tebogo Tshwane
Former PIC IT security head still giving police confidential leaks
Article
/ 5 March 2019

Former PIC IT security head still giving police confidential leaks

Simphiwe Mayisela was suspended from the PIC in November of 2017 and eventually dismissed on June 2018 following various charges of misconduct

By Tebogo Tshwane
Fear and distrust ‘nothing new’ among PIC employees
Article
/ 4 March 2019

Fear and distrust ‘nothing new’ among PIC employees

The climate of fear and distrust in the corridors of the Public Investment Corporation has a long and chequered history

By Tebogo Tshwane
Mystery Mr N rattled PIC
Article
/ 1 March 2019

Mystery Mr N rattled PIC

No one can shed light on who is behind damning emails and their far-reaching consequences

By Tebogo Tshwane
PIC chair ‘withheld’ Matjila’s disputed resignation letter
Article
/ 27 February 2019

PIC chair ‘withheld’ Matjila’s disputed resignation letter

On Monday, Gungubele told the commission that there was a faction in the board which took Matjila’s side whenever it dealt with issues related to him

By Tebogo Tshwane
Senior executives implicated in irregular Ayo transaction still at PIC
Article
/ 27 February 2019

Senior executives implicated in irregular Ayo transaction still at PIC

At least eight people have been implicated in breaching processes in the irregular R4.3-billion Ayo deal but only two people have been suspended

By Tebogo Tshwane
PIC required to recover R4.3-billion made to Ayo by March 13
Article
/ 26 February 2019

PIC required to recover R4.3-billion made to Ayo by March 13

The PIC has confirmed that it received a compliance notice from the CIPC ordering it to recover the R4.3-billion made to Ayo Technology Solutions

By Tebogo Tshwane
Former PIC board member contradicts Gungubele over board resignations
Article
/ 26 February 2019

Former PIC board member contradicts Gungubele over board resignations

The board of the PIC was asked to resign immediately or face being fired following allegations of corruption, the PIC inquiry heard on Tuesday

By Tebogo Tshwane
Ayo: No grounds for PIC to recover R4.3-billion investment
Article
/ 26 February 2019

Ayo: No grounds for PIC to recover R4.3-billion investment

The PIC paid R43 per share for a 29% stake in Ayo, a company in which Independent media owner Iqbal Surve has an indirect stake

By Tebogo Tshwane
Gungubele says he does not have a lack of confidence in the board
Article
/ 26 February 2019

Gungubele says he does not have a lack of confidence in the board

On Monday the PIC inquiry heard how the board could not reach consensus on how to deal with the allegations against former CEO Dan Matjila

By Tebogo Tshwane
The world according to Dr Survé
Article
/ 15 February 2019

The world according to Dr Survé

Iqbal Survé’s business success has bought him the ultimate luxury: his own version of reality

By Khadija Patel
PIC commission witnesses receive death threats
Article
/ 14 February 2019

PIC commission witnesses receive death threats

The commission cannot release the identities of those whose lives have been threatened and the matter has been referred to the police

By Tebogo Tshwane
Workers want say in PIC board
Article
/ 8 February 2019

Workers want say in PIC board

Unionists want greater transparency after revelations and allegations about impropriety

By Tebogo Tshwane
‘Culture of fear rules PIC’
Article
/ 1 February 2019

‘Culture of fear rules PIC’

An official says he is not to blame for the Ayo deal which, he says, was irregularly approved by Matjila

By Tebogo Tshwane
Matjila ignored PIC processes, championed AYO deal, inquiry hears
Article
/ 30 January 2019

Matjila ignored PIC processes, championed AYO deal, inquiry hears

Suspended assistant portfolio manager Victor Seanie appeared before the commission chaired by Justice Lex Mpati on Wednesday

By Tebogo Tshwane
Mystery witness set to testify before PIC commission
Article
/ 30 January 2019

Mystery witness set to testify before PIC commission

The commission extended the public hearings by a day on Tuesday but would not be drawn into revealing who the mystery witness is

By Tebogo Tshwane
Deputy finance minister ‘exposes PIC board to political interference’
Article
/ 29 January 2019

Deputy finance minister ‘exposes PIC board to political interference’

A former board member told the PIC inquiry that having a deputy finance minister as chair exposes the organisation to political interference

By Tebogo Tshwane
PIC inquiry focuses on how Matjila probe split board
Article
/ 29 January 2019

PIC inquiry focuses on how Matjila probe split board

Former non-executive director Claudia Manning told the commission that the board had been divided since September 2017 when the Nogu emails emerged

By Tebogo Tshwane
PIC commission to hear from a former board member
Article
/ 29 January 2019

PIC commission to hear from a former board member

Claudia Manning will be speaking for the first time since she stepped down from the PIC

By Tebogo Tshwane
The mystery of Matjila’s whistleblower
Article
/ 28 January 2019

The mystery of Matjila’s whistleblower

Questions arose around the identity of the whistleblower ‘James Nogu’ and whether he worked alone or with an accomplice within the PIC

By Tebogo Tshwane
Anonymous whistleblower takes centre stage at PIC inquiry
Article
/ 28 January 2019

Anonymous whistleblower takes centre stage at PIC inquiry

The inquiry heard how an investigator for the asset manager could not uncover the identity of a whistleblower by the name of ‘James Nogu’

By Kiri Rupiah
Cracks appear in the PIC
Article
/ 25 January 2019

Cracks appear in the PIC

The first week of PIC hearings was expected to be tame, but that was quickly overtaken by startling developments

By Tebogo Tshwane
PIC inquiry gets underway with nuts and bolts of investment decisions
Article
/ 21 January 2019

PIC inquiry gets underway with nuts and bolts of investment decisions

The wholly state-owned asset manager controls about R2-trillion in funds, the majority of which is made up of government employee pension funds

By Tebogo Tshwane
PIC commission kicks off with employee testimony
Article
/ 21 January 2019

PIC commission kicks off with employee testimony

​Public Investment Corporation employees will be the first witnesses at the PIC commission of inquiry which begins in Pretoria this week

By Tebogo Tshwane
Gungubele: PIC inquiry to go ahead
Article
/ 27 November 2018

Gungubele: PIC inquiry to go ahead

The departure of Dan Matjila will not hinder the commission of inquiry tasked with probing allegations of maladministration in the PIC

By Sibongile Khumalo
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