Dan Matjila, the ousted CEO of the Public Investment Corporation (PIC), Africa’s biggest fund manager, is expected to say his opposition to funding the rescue of clothing retailer Edcon ahead of national elections was one of the reasons he was dismissed.

Matjila is scheduled to begin testifying before the PIC commission of inquiry on Monday and is expected to assert that the rescue of Edcon Holdings, which supports 140,000 jobs through direct employment and its supply chains, did not meet the investment criteria of the PIC clients, according to his prepared statement.

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