Former chief executive of the Public Investment Corporation Daniel Matjila will on Monday face the commission of inquiry to defend himself from accusations levelled against him while he was at the helm of Africa’s biggest fund manager.
When he resigned in November 2018, Matjila was the subject of an internal investigation into allegations that business and kickbacks were inappropriately ring-fenced around some of his associates. Other transactions that will be in the spotlight include the funding of S&S Refinery in Mozambique, Steinhoff International Holdings, VBS Mutual Bank, and Ayo Technology Solutions, among others.
According to Bloomberg, in his prepared statement, Matjila alleges that he was removed from his job so that politically connected people could influence the fund’s investment decisions, and that he was pressured to make deals that didn’t fit with the PIC’s strategies.
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