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'Matjila, Survé had secret deal to make R700m debt to pensioners disappear'

30 August 2021 7:25 PM
Tags:
Corruption
The Money Show
Bruce Whitfield
PIC
Public Investment Corporation
Iqbal Survé
amaBhungane Centre for Investigative Journalism
Dan Matjila
investigative journalism
Sekunjalo Independent Media
Dewald van Rensburg

Bruce Whitfield interviews Dewald van Rensburg, an Investigative Journalist at amaBhungane Centre for Investigative Journalism.
Former Public Investment Corporation (PIC) CEO Dan Matjila appearing at the commission of inquiry into the PIC. Picture: Kayleen Morgan/EWN

RELATED: 'Dr Dan' Matjila’s secret deal to make Survé’s R700m debt to pensioners 'disappear' - amaBhungane Centre for Investigative Journalism


The Public Investment Corporation (PIC) is suing Iqbal Survé's Sekunjalo Independent Media for R700 million related to the buyout in 2013 of Independent Newspapers.

Court papers revealed that former PIC CEO Dan Matjila secretly signed away the PIC's ability to claim back the money accumulating to state pensioners.

The PIC is attempting to get Matjila's agreements with Survé deemed unlawful.

The Money Show’s Bruce Whitfield interviewed Dewald van Rensburg, an Investigative Journalist at amaBhungane Centre for Investigative Journalism (scroll up to listen).

The PIC would essentially forgive almost a billion rand in debt, and sell all its shares in Independent to Iqbal Survé in return for shares in a company that basically consists of Independent Media…

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

This deal was remarkably ill-conceived. It fell through… but the PIC Chief Executive Dan Matjila signed a couple of agreements along the way which Iqbal Survé says are still in effect… The PIC has no power to ever go after… roughly a billion rand!

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

These are really silly, badly drafted agreements… It’s staggering actually...

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

Dan Majila says he hasn’t heard about this case until I contacted him about it!

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

This article first appeared on CapeTalk : 'Matjila, Survé had secret deal to make R700m debt to pensioners disappear'




30 August 2021 7:25 PM
Tags:
Corruption
The Money Show
Bruce Whitfield
PIC
Public Investment Corporation
Iqbal Survé
amaBhungane Centre for Investigative Journalism
Dan Matjila
investigative journalism
Sekunjalo Independent Media
Dewald van Rensburg

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