Former Public Investment Corporation (PIC) CEO, Dr. Dan Matjila, on Thursday, said contrary to media reports and despite the trillions of rands, it manages - making it a tempting piggy bank for many - the PIC had not been used as a "free for all” under his tenure.
"I know we talked about politicians approaching you but, has or was it, a piggy bank?" retired Judge Lex Mpati asked Matjila, who answered that this was not the case, as stringent processes were followed at the asset manager.
The Commission of Inquiry into alleged impropriety at the PIC was hearing Matjila's response to the Inquiry's terms of reference.
The former executive said the PIC was in good shape and had been given a clean bill of health while he was at the helm and before he left.
Asked by Commissioner Gill Marcus if the PIC had fulfilled its mandate, Matjila replied that over the years they had outperformed the benchmarks set by their clients.