PIC Inquiry likely to wrap up by month-end

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The Commission of Inquiry into the Public Investment Corporation (PIC) is likely to finalise its hearings by the end of the month.

The Commission is yet to hear testimony from more witnesses.

The President had granted the commission its requested extension, with the new date of submission of the final report being July 31, 2019 after it had failed to meet its April 2019 deadline.

The inquiry is hearing evidence of alleged wrong doing and impropriety at Africa’s largest asset manager.

The report is unlikely to be given to the president at the end of this month.

The commission on Thursday morning continued to hear testimony from former CEO Dan Matjila.

He is giving more evidence regarding the PIC investments into Ayo Technology Solutions and other Sekunjalo related deals.

Matjila told the commission he did not try to pressure anyone into investing R 4.3 billion into Ayo Technology Solutions.

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