Nene aims to provide clarity on PIC before end of the week

This comes amid allegations that Matjila unduly paid R2 billion to several businessmen, with close ties to the PIC, without permission from the board. 

“I have completed the review of the documents and evidence regarding the governance issues at the Public Investment Corporation (PIC), as well as the allegations against the CEO of the state-owned fund manager.

“Taking these into account, as well as other developments that have unfolded recently, I will announce the decisive steps to be taken to address the PIC’s governance issues and allegations against the PIC CEO before the end of this week, after I have met with the PIC’s board of directors,” Nene says. 

ALSO READ: I asked Moyane to halt Sars restructuring, says Gordhan

The issues around PIC were raised by the United Democratic Movement (UDM) leader Bantu Holomisa, who has called for Matjila to be fired over the allegations.

The UDM also filed papers to the North Gauteng High Court, in a bid to stop the PIC from taking action against Matjila citing conflict of interest. 

However Nene blocked the UDM’s attempts which would compel him to fire Matjila.

"I believe that the measures I will announce this week will ultimately strengthen the PIC’s governance and restore public trust in this important public institution," says Nene.