The former CEO of the Public Investment Corporation (PIC), Dan Matjila, says “spurious and spiteful leaks” in the company forced him to seek board approval to investigate the many breaches of its IT platform.

“I was very concerned about the vulnerability of the PIC IT platform. Not only was there a clear and obvious risk to R2-trillion worth of client assets if the PIC’s systems could be compromised in this manner, but there was a real likelihood that potential applicants for finance would be deterred from approaching the PIC for funding if the confidentiality of the applications could not be secured,” Matjila said on Monday...

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