Nene moves to block Holomisa from removing PIC boss Matjila

Finance Minister Nhlanhla Nene has moved to scupper an attempt by the UDM leader to have the Public Investment Corporation (PIC) boss removed over misconduct allegations, The Star has reported.

An apparent fight between political elites for control over the crucial funding institution appears to be taking place.

UDM leader Bantu Holomisa demanded last week that Nene remove Dan Matjila from his post as the PIC head after accusing Matjila of personally releasing funding worth R2 billion to businessmen with ties to the corporation without the board’s approval.

This came after the UDM filed an urgent application in the North Gauteng High Court to block the PIC board from taking internal action against Matjila, citing a conflict of interest.

In an answering affidavit, Nene said the PIC matter did not need the attention of the court, as due process was being followed to address the allegations.

READ MORE: Holomisa wants Ramaphosa to look into ‘missing’ R100m ‘linked’ to PIC’s Dan Matjila

Public Servants Association (PSA) deputy general manager Tahir Maepa said they agreed with the finance minister.

“The PSA agrees with Minister Nene that no sufficient evidence has been produced to review the decision of the current board. The PIC CEO, Dr Dan Matjila, was cleared by the PIC board on all allegations that he had acted improperly by awarding a loan to a company that was linked to his supposed girlfriend,” Maepa said.

He said attacks on the PIC by the UDM and others would lead to the corporation possibly losing its independence and integrity.

He also accused those resurrecting the allegations against Matjila of trying to replace the PIC boss with someone “friendlier” to the current PIC board.

“The PSA is aware that these political ploys to remove Dr Matjila are a way to accommodate investments of a faction of politically connected individuals.

“If Dr Matjila is guilty of anything, can that evidence be produced, rather than this mudslinging?” Maepa continued.

Meanwhile, Nene has responded to Holomisa’s application, accusing him of being driven by a narrow political agenda “as opposed to the public’s interest”.

He added that while he was aware of PIC’s importance as a state-owned asset manager, inviting the courts to usurp its powers would breach the principle of separation of powers.

“For this reason, the minister has maintained a holistic approach. The UDM’s case is aimed at the CEO. The minister’s concern is with the overall executive and strategic leadership of the the organisation,” Nene continued.

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