Another reprieve for PIC’s Matjila
But midweek show of unity hid tensions at meeting, say insiders
Daniel Matjila, the CEO of the Public Investment Corporation (PIC), on Friday survived a third special meeting in as many weeks after it was called by the asset manager's board to deal with him. The marathon meeting was held to review a report by the PIC's internal auditor on Matjila's conduct following accusations that he had irregularly funded a company headed by an alleged girlfriend of his. These allegations were raised at the first special board meeting, held on September 15. Late on Friday the PIC board issued a statement clearing Matjila of any wrongdoing related to an investigation into R26-million worth of alleged transgressions. "The Board has concluded that the allegations were baseless and that Dr Matjila is cleared of any wrongdoing," the statement said. A final report written by head of internal audit Lufuno Nemagovhani, which was seen by Business Times, stated: "Internal audit noted that the responses provided by the PIC CEO to the PIC board are accurate in all materi...
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