Johannesburg - In two weeks, the Commission of Inquiry into alleged wrongdoing at the Public Investment Corporation (PIC) is expected to submit a report to President Cyril Ramaphosa outlining its recommendations.
However, it seems time is running out for the commission. It was appointed in October to delve into financial mismanagement at the country’s largest asset management company.
In March, retired Judge Lex Mpati, who heads up the commission alongside assistant commissioner, former Reserve Bank governor Gill Marcus and investment banking expert Emmanuel Lediga, asked Ramaphosa if the commission can be given an extension to complete its large scope of work and Ramaphosa acceded to this.
But former PIC chief executive officer Dan Matjila, who took the stand last week and spent time revealing how operations had unfolded during his tenure at the organisation, is still due to carry on with his testimony where he will shed light on the investment transactions the PIC undertook with several companies.
The Government Employee Pension Fund, which the PIC invests funds on behalf of, is also due to make an appearance.