Former Public Investment Corporation (PIC) CEO Dan Matjila continued his testimony at the Commission of Inquiry into the PIC on Monday.
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
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
#PICInquiry Matjila says that they were able to save Daybreak Farm from collapsing following its intervention.— Thando Maeko (@HelloThando) July 22, 2019
"Daybreak Farms is now profitable and making a significant contribution to transformation in the poultry industry," he says
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: