'No evidence that PIC's Dan Matjila had a relationship with Pretty Louw'

PIC Chief Executive Dr Dan Matjila at his offices in Pretoria. File picture: Simphiwe Mbokazi/African News Agency (ANA)

PIC Chief Executive Dr Dan Matjila at his offices in Pretoria. File picture: Simphiwe Mbokazi/African News Agency (ANA)

Published Oct 17, 2018


Cape Town - A source close to the forensic investigation into Public Investment Corporation (PIC) boss Dan Matjila says the probe found no evidence that there was a relationship between him and the owner of Maison Holdings (MST), Pretty Louw. 

“There is no evidence that Matjila and Ms Louw have or had a romantic relationship,” he said. Matjila has publicly denied allegations that he and Louw have a romantic relationship. Louw also denied allegations that she received money from or had a romantic relationship with Matjila. When questioned by MPs about the allegations Matjila stuck to his guns and was cautioned that he could face prosecution if he was found to be lying to Parliament.

According to Independent Media's source, the report is expected to reveal that “no evidence, irregularity or impropriety whereby the PIC made a loan of R21million to MST, and made a Corporate Social Investment contribution of R5m to MST.

“According to my information all of the documents submitted by the CEO and CFO as evidence of the loan to MST were valid; the loan of R21m was provided to MST and not Maison Holdings; the allocation of R5m to MST as Corporate Social Investment was in line with the PIC’s CSI strategy which had been approved by the board in November 2016.”

The investigation, which was requested by then-finance minister Nhlanhla Nene, is expected to clear Matjila of any allegations of wrongdoing against him. In July, the PIC board appointed advocate Geoff Budlender SC to lead the probe into Matjila. 

The PIC is the biggest asset manager in Africa and manages almost R2 trillion in government pension and other funds. 

The chairperson of the PIC, Deputy Finance Minister Mondli Gungubele, has confirmed that the report into the investigation has been drafted by Advocate Budlender. 

Matjila has survived two previous attempts to have him booted from the PIC and a previous internal investigation cleared him of the same allegations which the UDM used to apply pressure on Treasury to sack him earlier this year.


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