Public Investment Corporation (PIC) chief executive Dan Matjila has denied allegations that he misused PIC funds to finance a personal project related to someone he is allegedly in a relationship with.
Deputy editor at Financial Mail, Sikonathi Mantshantsha says allegations are suddenly emerging now that Matjila has a new boss in the form of Deputy Finance Minister Sfiso Buthelezi.
He says this is the same Sfiso Buthelezi of "Prasa fame", the one that was ordered to pay back R3 billion for the locomotives contract that failed.
He [Sfiso Buthelezi] is now suddenly Matjila's boss and there are all these allegation against him... we shall find out what the real reasons are.
There's never been a single allegation or a whiff of fraud against Dr Matjila but yet there is now and we shall see whether there is any fact to those allegations.— Sikonathi Mantshantsha, Deputy editor at Financial Mail
Mantshantsha says PIC handles pension funds for South African state workers and has about R1.9 trillion. He says the Guptas have not being able to get into PIC because the previous board has been preventing them.
Buthelezi is the new boss and he reports to Finance Minister Malusi Gigaba, who is allegedly friends with the Guptas, Mantshantsha said.
We know wherever Malusi Gigaba goes the Guptas follow...— Sikonathi Mantshantsha, Deputy editor at Financial Mail
To hear more of this interview, listen below: