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SIKHONATHI MANTSHANTSHA, Former Deputy Editor: Financial Mail

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Day one of former Public Investment Corporation (PIC) chief executive Dan Matjila’s testimony at the commission of inquiry got off to an uneventful start on Monday, with the former head focusing mainly on the role he played in turning the PIC into South Africa’s biggest asset manager.

Matjila had been at the PIC for 15 years after being seconded to the institution as a risk manager by then CEO Brian Molefe in 2003. He became chief investment officer in 2005, and CEO in 2014.

He took the commission through the state asset manager’s corporatisation, and how he was instrumental in turning the institution from managing just over R300 billion when he arrived to having over R2 trillion in assets under management at the time of his departure in 2018.

Late submissions

However, Matjila’s much-anticipated testimony was cut short because he had only provided the commission with his final 227-page statement on Friday afternoon. On Monday, the commission said it was yet to receive his complete bundle of annexures, after Matjila’s counsel faced difficulties obtaining the relevant documents from the PIC.
9 Jul 2019 12PM English South Africa Business News · Investing

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