Dan Matjila is the most senior employee of the Public Investment Corporation to appear before the commission. His evidence will be keenly watched as he was also one of the longest-serving executives at the PIC before his resignation in November 2018. The commission is investigating alleged corporate governance failures and alleged corruption at the fund manager.
Matjila began by laying out his background from his home village in North West. After matriculating in 1980, he took up up an apprenticeship which paid him R67.50 a week, which he saved to fund his university education. After obtaining commerce degrees, he moved to the asset management industry. Matjila joined the PIC from fund manager Stanlib.
The formation of the PAIDF led to the formation of Harith Fund Managers in 2006, led by former PIC executive Tshepo Mahloele, said Matjila. This was launched with a seed investment of $625-million, with the Government Employees Pension Fund contributing $250-million. These include a R4-billion investment in Camac Energy, an oil exploration company alleged to have donated cash to entities linked to former president Jacob Zuma and the ANC.
You make it sound as if he is in the running for an Oscar. An Oscar of Pissedstorius for morals that sprouted legs and fled.