PUBLIC INVESTMENT CORPORATION
CAROL PATON: Support for Matjila is cracking amid alarm over range of powers
The mood has clearly shifted and explanations will find a far more sceptical audience
There is growing disquiet in political circles about the role of Public Investment Corporation (PIC) CE Dan Matjila: not that he is corrupt, but certainly that he is too powerful. There are signs that the rock-solid support he has enjoyed from the PIC board is wavering and it appears his political cover is evaporating. In September 2017, during Malusi Gigaba’s brief reign as finance minister, there was a crude attempt to finger Matjila for corruption on the grounds of an e-mail from a "whistle-blower", who claimed he had given PIC funds to "a girlfriend". Matjila went public to say he was under attack, raising the spectre of the Gupta looting machine, which wanted to get "the keys to the big safe".The PIC board, which received a written explanation from Matjila and a report from the head of the internal audit, Lufuno Nemagovhani, cleared him of wrongdoing. Political parties and the public all rallied behind him. However, recent events indicate that the board is not quite so filled w...
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