Matjila details interventions PIC took to 'save' small companies

Former Public Investment Corporation (PIC) CEO Dan Matjila continued his testimony at the Commission of Inquiry into the PIC on Monday.

RELATED: Dan Matjila takes responsibility for PIC's Steinhoff losse

The commission is probing alleged impropriety at the corporation.

Matjila detailed some of the smaller transactions at the PIC during his tenure as CEO, one of them pertaining to Daybreak Farms.

We understand that when the PIC decided to invest in Daybreak Farms it was technically insolvent and they (PIC) were trying to resurrect it, saying they were saving black jobs and funding black business.

Kgomotso Modise, Reporter - EWN

RELATED: Matjila admits to meeting with ministers to discuss PIC related matters

Now it is important to note Daybreak Farms was under the leadership of Kholofelo Maponya who is the same guy we saw with SA Home Loans. We understand that Matjila doesn't think very highly of Maponya.

Kgomotso Modise, Reporter - EWN

Matjila claims that businessman Kholofelo Maponya was removed as CEO of Daybreak in order to protect PIC's investment in the dairy producer.

Matjila says Maponya had 'no respect for governance.'

Listen below to the full interview:


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