Black-owned investment group Lebashe plans to sue United Democratic Movement (UDM) leader Bantu Holomisa for what it called a "defamatory" and "malicious" open letter he wrote to the Presidency. In the letter sent on Tuesday, Holomisa accused Lebashe and black economic empowerment infrastructure investment company Harith General Partners of being "in bed" with the Public Investment Corporation’s (PIC’s) powerful CEO, Dan Matjila, to benefit from funding deals Matjila would swing its way. "We feel it’s horribly unfair what he’s done and it’s quite damaging to us, especially when you’re trying to build a financial services business where you need absolute credibility in the marketplace," said Lebashe executive director Warren Wheatley. He said the only funding Lebashe received from the PIC was to buy a block of Capitec shares in 2015, held by the PIC, a chunk of which it had already repaid. The PIC, said Lebashe, accounted for only 20% of its total funding, alongside other financial i...
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