Matjila 'going nowhere' says PIC of controversial CEO

After surviving the state capture investigations Daniel Matjila is again under fire as Finance Minister Nhlanhla Nene asks the Public Investment Corporation (PIC) board for reasons why he should not be suspended.

The PIC CEO has previously been linked to a number of questionable investments and financial dealings.

The most damaging allegation is that his [Matjila's] girlfriend received about 20 million rand for a company the PIC has just funded after Matjila intervened on her behalf.

Sikonathi Mantshantsha Deputy Editor at Financial Mail

However, the matter was investigated by the PIC board last year and he was cleared of wrongdoing.

The UDM is calling for Matjila's suspension, dismissing the PIC's findings as a “whitewash” and maintains a thorough probe cannot be conducted while Matjila remained in office.

The bad guys wanted him out, now it would seem he's not very well off with the good guys either.

Sikonathi Mantshantsha Deputy Editor at Financial Mail

Elsewhere, we're being advised to dust of our bicycles as the price on petrol is set to rise to record highs.

An announcement is expected next week, advising that the cost of petrol will increase to just over R16 per litre.

The rand has weakened and the oil price has strengthened. In July the cost of oil will rise again so that our petrol price jumps close to R17.

Sikonathi Mantshantsha Deputy Editor at Financial Mail

Find out more about the petrol price hike here:


This article first appeared on CapeTalk : Matjila 'going nowhere' says PIC of controversial CEO


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