It’s a draw ... for now
How Daniel Matjila bought himself more time
CEO Daniel Matjila lives to fight another day as PIC board displays united front with finance minister Malusi Gigaba. Few bought it
The board of the Public Investment Corp (PIC) presented a united front on Tuesday at a choreographed press conference in which finance minister Malusi Gigaba strenuously denied there were any nefarious attempts to remove CEO Daniel Matjila. "There is absolutely no truth to the allegations that there is a looting campaign out there that seeks to dip dirty hands into the R1.9trillion of the PIC ... from time to time people will try to subject some of us to undue pressure to take decisions which favour them‚" said Gigaba. He also denied that government was eyeing R100bn from the PIC to recapitalise SA Airways and other parlous state-owned companies under government’s management — a bailout which Matjila was reluctant to agree to. As the PIC owns 13% of the JSE, it remains a prized target for would-be state capturers. But few were convinced by Gigaba’s display. Economic Freedom Fighters (EFF) spokesman Mbuyiseni Ndlozi said he didn’t buy this "false" show of unity. "[It] is the oldest t...
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