Retail company Steinhoff in which the Public Investment Corporation (PIC) lost R24 billion last year is expected to come under the spotlight when Dan Matjila resumes his testimony at the Mpati Commission next week.
The former PIC chief executive is expected to shed further light on transactions between the government asset manager and several companies including Steinhoff, Lancaster, S&S Refinery and Ascendis.
The Government Employees Pension Fund (GEPF) will also make an appearance at the commission, which is probing allegations of impropriety at the PIC. GEPF is the largest client of the PIC, which manages trillions of rand’s worth of assets.
Matjila, who also had a stint as the PIC’s chief investment officer, yesterday detailed how the transaction with independent energy company Tosaco had unfolded in 2015. His testimony on Tosaco followed days of shocking revelations about how the PIC had been captured, and how politicians and some senior government officials sought to influence its operations and investment strategies.
Matjila told the commission that concerns had been raised about the transaction, particularly over the involvement of businessman Lawrence Mulaudzi, who was a beneficiary in the 2015 deal. Matjila said he had met Mulaudzi in May that year when the businessman informed him about an investment opportunity.