Political formations interfered in botched Sagarmatha deal, says PIC company secretary
Bongani Mathebula says an attachment alleged to be from Kopano ke Matla endorsing the deal was sent to her from Iqbal Survé’s e-mail address
Former Public Investment Corporation (PIC) CEO Dan Matjila allowed political parties and trade unions to interfere with the PIC’s investment decisions, the state-owned asset manager’s company secretary, Bongani Mathebula, told the commission of inquiry into the affairs of the PIC on Wednesday. Mathebula said political formations including the EFF, the Police and Prisons Civil Rights Union’s (Popcru’s) investment arm PGC, the Federation of Unions of SA (Fedusa) and Cosatu’s Kopano ke Matla wrote to the PIC endorsing investment in Iqbal Survé’s botched Sagarmatha Technologies deal. Mathebula, who was suspended from the PIC in 2018 but reinstated by the new board in March, said Matjila asked her to forward these parties’ e-mails to the PIC’s investment committee in order to influence its decision to approve the transaction. “The interference by unions and political formations in the board and investment processes facilitated by the CEO is not in line with the investment and governan...
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