Judge Lex Mpati (right). File photo: ANA (Sapa)
JOHANNESBURG - The Public Investment Corporation (PIC) Commission of Inquiry into impropriety, led by retired Judge Lex Mpati continues today in Pretoria. 

The inquiry continues today with SA Home Loans CEO Kevin Penwarden taking the stand. 

Advocate Jannie Lubbe, the evidence leader at the Commission of Inquiry into alleged improprieties at the Public Investment Corporation (PIC) on Monday told the commission that the PIC had confirmed that its investment committee and the board did not authorise the investment of $270 million (R3.9 billion) into Erin Energy.

The Johannesburg Stock Exchange’s General Manager, André Visser gave evidence at the PIC Commission of Inquiry into impropriety at the PIC, where he confirmed that a letter signed by Matjila, and the PIC’s head of fixed income, confirmed the investment. 

At the commission, Visser took the stand and testified that the Johannesburg Stock Exchange (JSE) is currently proposing changes to its listing requirements since the Erin Energy, Ayo Technology and Sagarmatha deals, involving the PIC, have come under the spotlight.  

Just last week, Ndivhuwo Tshikhudo, an investment analyst at the PIC who has an MBA from Texas USA, Bsc Mech Engineering and is a Chartered Financial Analyst, revealed to the commission that he was tasked with conducting an analysis of the investment and came up with recommendations for the PIC.

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