Matjila to continue with his testimony at the PIC Commission

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The Commission of Inquiry into the Public Investment Corporation (PIC) will on Monday continue to hear evidence from former PIC CEO Dan Matjila.

He will focus on the PIC’s investments into Iqbal Surve’s Ayo Technology Solution.

In 2017, the PIC gave Ayo R4.3 billion for a 29% stake into the ICT Company.

The former Acting CEO Matshepo More told the commission in Pretoria that she was left in the dark regarding the transaction.

Since the commission’s inception, various senior managers have claimed that Matjila imposed his decisions instead of leading the corporation.

He has denied the claims.

The Commission of Inquiry into the PIC as nearing its end and is expected to wrap up in the next few weeks.

Matjila will this week give evidence of his involvement in the Ayo Technology Solutions transaction.

Over the past week he has denied allegations of dubious investment decisions, improper conduct and breaches of governance policies levelled against him by various executives and senior staff members from the PIC.

The Corporation manages over two trillion rands in funds belonging to government employees.

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