PIC to oppose court bid by Bantu Holomisa to have Dan Matjila suspended
The Public Investment Corporation (PIC) plans to oppose the high court application by UDM leader Bantu Holomisa for the suspension of CEO Dan Matjila ahead of a disciplinary process. On Wednesday, the PIC said in a lengthy response to a series of critical newspaper articles about the corporation that Holomisa’s repeated allegations of systemic corruption at the PIC were "unfortunate and lack substance", as well as being "malicious, patently false and [eminently] contestable". Earlier in June, Holomisa brought an urgent application in the High Court in Pretoria for the suspension of Matjila. He has also written to President Cyril Ramaphosa about his allegations, which relate to the claim that Matjila pressured a company in which the PIC had invested, to settle the R300,000 debt of his "girlfriend". Matjila has denied the allegations which were investigated by the PIC board.
The asset manager, which manages about R2.1-trillion in assets on behalf of the Government Employees Pens...
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