CAROL PATON: State’s investment pile now a target for new set of looters
Once "they" decide they are gonna get you, they get you. That’s the way it is in politics; just ask John Oliphant, who was once the head of the Government Employees Pension Fund (GEPF); Wolf Meyer, who was chief financial officer of South African Airways; or Tshediso Matona, who was briefly CEO of Eskom. All three were pushed out of their jobs unfairly, despite their competence and with no real findings made against them. Is Public Investment Corporation (PIC) CEO Dan Matjila next to get the chop? Fortunately for Matjila, though, the political actors who want him out have lost significant power in recent months. It is no longer easy to cajole a board into acquiescence through spurious investigations by friendly auditors and to cast a shadow over someone’s name so that they are worn down and walk away. Matjila manages R1.9-trillion in government pension fund money and other social funds. He is at the head of the biggest investor in the economy which, on average, holds around 10% of e...
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