Former Public Investment Corporation (PIC) Chief Executive Officer Dan Matjila has denied claims that the whistleblowing channels at the PIC did not work.
He says he had an open door policy and established a suggestion box for employees to submit their complaints. He says staff also had his cell-phone numbers.
Matjila says some senior managers were not living up to the values of the corporation and were not implementing proper PIC policies. This created a distressed working environment.
Matjila also told the commission that the PIC was performing extremely well despite some of the investment losses it incurred.
“You learn from the mistakes now and fix them so that they don’t occur again. But there will be new ones that need attention and they go along. So sustaining a 98% then you remain the best manager ever under the sun. So I’m more than comfortable at what we delivered at the PIC. Steinhoff probably R9.5 billion, TOSACO, Asandisa another R3 billion it gives you R14 billion, Erin R5 billion or so, SNS a billion or so, Ecobank another R4 billion; so R22 billion divided by R2 trillion will give you less than 2%.”
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