Finance ministry and PIC paper over the cracks
Public Investment Corporation chairman Sfiso Buthelezi says he has full confidence in CEO Dan Matjila, who backs down on claims of a plot to remove him
A highly charged meeting between the finance ministry and the Public Investment Corporation (PIC) ended on Tuesday afternoon with an unconvincing attempt at a united front. CEO Dan Matjila backed down on claims that there was a plot to remove him and capture the R1,9-trillion fund. PIC chairman and Deputy Finance Minister Sfiso Buthelezi said that he had full confidence in Matjila. The two have been at loggerheads on the board, with Buthelezi taking a hard line on Matjila, insisting on an investigation of allegations of impropriety against him by the internal audit committee, even after his explanations were accepted by a majority of the board. Matjila went public on Sunday, claiming that there were people who wanted to remove him “to get the keys to the big safe”. But at a media conference on Tuesday after the meeting, Matjila recanted, saying that a Sunday Times article was “distasteful and inaccurate” and “designed to drive a wedge between myself and the minister [of finance], an...
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