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PIC board engineered my demise: Matjila

SABC News Dan Matjila  - PIC board engineered my demise: Matjila

Former Chief Executive Officer of the Public Investment Corporation (PIC) Dan Matjila says the PIC board Deputy Chairperson, Dr Xolani Mkhwanazi and some board members were working in “unison” to engineer his demise.

Matjila told the PIC Commission of Inquiry that despite an internal audit not finding any fault with him over the Nogu e-mails, he felt that the board had already taken a decision to dismiss him and the Chief Financial Officer (CFO).

He told Justice Lex Mpati the attack on him was pre-arranged and that he would not have been able to defend himself, had he not returned from the US to attend a board meeting.

Matjila claims other anonymous e-mails were sent in an effort to discredit him and the CFO. He says he followed correct procedures regarding the Mason Holdings company’s requests for funding and that he was cleared by the board.

Matjila told the Commission that the Mason Holdings – a company owned by Pretty Louw, his alleged girlfriend – approached the PIC for funding. However, they did not meet the PIC requirements. He says she was advised to approach the Department of Trade and Industry to seek funding.

Matjila says he then asked a businessman Mr Mulaudzi to assist, which he did in his personal capacity. The board cleared him of any wrongdoing, but he felt external pressure and other players were involved to oust him, especially the media.

Dudu Myeni implicated in PIC

Former SAA board Chair, Dudu Myeni has been implicated in the Commission of Inquiry investigating allegations of impropriety at the Public Investment Corporation.

Matjila says Myeni approached him about a proposal to fund the SAA to the tune of R6 billion. He says he informed Myeni that the PIC would have to conduct an investment investigation before awarding the funds as the airline was struggling financially.

He says Myeni was not happy about that. Matjila says although it was a formal meeting at the PIC offices, no minutes were taken.

“Was there minutes of this meeting? I don’t recall we took minutes in that meeting. We explained the process to Ms Myeni, normal processing and due diligence and decision if we can fund them or not. The only time when we record is when there is a transaction to be dealt with.”


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