SOUTH AFRICA - PRETORIA - 26 February 2019. PIC Board member Gugu Hlatshwayo testifying at the PIC Commission of Enquiry. Picture: Oupa Mokoena/African News Agency (ANA)
CAPE TOWN – Dudu Hlatshwayo, a director at the Public Investment Corporation (PIC) testified before the PIC Commission of Inquiry that the Budlender Forensic Report, which had reached similar conclusions as the Board concerning the MST transaction, had never been officially released.

The Board only issued a media statement that confirmed that the forensic report had been received from Advocate Geoff Budlender and the Board was awaiting guidance from the Minister of Finance. 

Hlatshwayo said: “No further guidance was received from the Minister of Finance in this regard. And the report was never released officially to the implicated individuals nor to South Africa to quell the public interest that had been created. 

“It is also important to mention that the Budlender report arrived at similar conclusions as the ones reached by the Board in as far as the MST transaction was concerned. It confirmed categorically that: 

“Company policies had not been breached … Approval processes had been followed etc.”

She said the Budlender report was released on October 12, 2018, to the Task Team and she requested Mkhwanazi to circulate the report to the whole Board immediately. 

“The report was never circulated to the Board for a few weeks because Mr Gungubele first wanted to share the report with the Minister. 

“When the report was eventually shared with the Board, I personally requested that given the media and public interest, the Board issue a media statement to communicate to South Africa that no adverse findings had been made against Dr Dan Matjila.”

- BUSINESS REPORT