Gungubele raises concerns about PIC board’s Matjila decision

Deputy Finance Minister Mondli Gungubele, who is also the former chairperson of the public investment corporation (PIC) board, has questioned the corporation’s board’s decision not to aggressively look at allegations levelled against PIC former CEO Dan Matjila.

Gungubele is appearing before the commission of inquiry into allegations of impropriety at the corporation on Monday.

Allegations of corruption have been levelled against Matjila, who resigned from his position on November 23 last year.

Some PIC board members are also expected to testify at the inquiry.

Following a directive from President Cyril Ramaphosa in October 2018, the inquiry was set up.

Led by former president of the Supreme Court of Appeal, Justice Lex Mpati, the Judicial Commission of Inquiry is investigating allegations of impropriety following reports of poor governance and precarious investment processes.

Based on its findings, the commission will then have to provide the president with an interim report by February and submit a final report and recommendations by April 2019.

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