Former Public Investment Corporation (PIC) CEO Dan Matjila has told the PIC commission, in Pretoria, that when he left the Corporation in 2018, it was in good shape.

Matjila says the Corporation was worth more than R2 trillion. He emphasized that despite its challenges, the Corporation had managed to secure and serve the interest of its beneficiaries.

“All I wanted to reflect here is that the PIC in terms of delivering on its mandate, it has done exceptionally well. Financial performance it has done well, beating benchmarks. But it’s not without problems as you say and this commission is here because it’s trying to get to understand what the problems are and how to deal with them,” Matjila adds.

Meanwhile, Matjila’s lawyers also told the commission that the Nexus report commissioned by the PIC board contains untested and unproven allegations against their client.

The report implicated Matjila for receiving a R2.45 million loan from VBS bank.

The lawyers say they have been provided with copies of the report and had the opportunity of studying it.

Matjila’s legal team told Justice Lex Mpati that they reject the allegations contained in the report and said it had “flimsy evidence”.

Matjila maintains his position that he did not receive any loan from VBS Mutual Bank.

On Monday, United Democratic Movement leader Bantu Holomisa tweeted that he received a tip-off from a whistle-blower that a Nexus Forensic Services report detailed how Matjila received a loan of R2.45 million from VBS.

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