Former PIC CEO Dr Dan Matjila Matjila File picture: Bheki Radebe/African News Agency (ANA)

Johannesburg - Deputy General Manager of the Public Servants Association of South Africa (PSA) Tahir Maepa says former Public Investment Corporation (PIC) CEO Dan Matjila couldn't have acted alone in making final investment decisions at the state-owned entity, adding that every member of the PIC board has to account for any alleged wrongdoing. 

Maepa was speaking during an eNCA interview shortly before Matjila took the stand on Monday morning at the Mpati Commission of Inquiry into alleged impropriety at the PIC. 

"Dan as an accounting officer reports to the board ... The board cannot be absolved from this... I hope he (Matjila) will come out and be clear," Maepa said, highlighting that former finance minister ex PIC board chairman Mondli Ngungublele was also privy to the manner in which matters were handled at the organisation. 

Maepa said from the testimonies given thus far at the commission it had been clear that due diligence was not conducted where investments were concerned and that there was a lack of good corporate governance. 

He said during his tenure, the PSA had consulted with Matjila over matters that concerned the union. 

He emphasised that the Government Employees Pension Fund was also liable for the mess at the PIC and that it could not bury its head in the sand. 

"It (GEPF) is the one that decided to investment in the PIC," said Maepa stating it was not forced to. He said the PSA was not on anyone's side but rather wanted good governance. 

Matjila is expected to give clear details of what transpired at the time he headed up the asset manager. 

Meanwhile, UDM leader Bantu Holomisa, who joined Maepa in studio, said it was up to Matjila to testify and absolve himself. 

"It is an opportunity for him to deal directly head on with the allegations that surfaced in the media," he said.