The Public Investment Corporation (PIC) board is set to clash with Finance Minister Nhlanhla Nene over corruption claims against its CEO, Dan Matjila. A letter from Nene indicated he was looking afresh at corruption allegations made in 2017 against Matjila and asked the board to provide him with the details of the matter by Monday. However, the PIC said the board was of the "view that the matter has been sufficiently dealt with". The allegations include that Matjila channelled funds for corporate social investment to a girlfriend. The board investigated in 2017 and found the claims had no foundation. A renewed police investigation into Matjila has reignited the claims, causing Nene to write last week to the PIC chairman, Deputy Finance Minister Mondli Gungubele, requesting a full briefing and a record of its deliberations. The reason for the renewed interest is not clear. The letter, which Business Day has seen, has been confirmed by the Treasury as coming from Nene. In his letter, ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.