PIC’s CEO denies allegations that he has abused funds

Die Vryburger

PIC’s CEO denies allegations that he has abused funds
Dan Matjila - Image - Die Vryburger

Dan Matjila, the chief executive officer of the Public Investment Corporation, denied allegations that he had abused funds. This follows after being asked to respond to allegations that he used the corporation’s funds to finance a personal project.

The Public Investment Corporation handles, among other things, the pension funds of civil servants.

The allegations are derived from a website that has connections with the Gupta family.

Matjila’s post, if he is being suspended, is apparently being filled by Eskom’s infamous CEO, Brian Molefe.

It seems that the Guptas are behind the whole move to replace Mtjila in order to put their hands on the corporation’s funds before Zuma retires in 18 months.

FF Plus Chairman, Adv. Anton Alberts said the new developments suggest that the Public Service Pension Fund (PSPF) is again in the vision of a Gupta orchestrated stripping effort, and is worrying, and proactive action is needed to protect the fund.

Adv. Alberts said that the PIC, which manages the state pension fund, has an asset of R1.87 trillion the largest investor in the country’s economy and therefore a desirable target for various self-enrichment actions.

“The FF Plus has taken note of the latest allegations, and will keep track of the threat to the fund in the future.”

“If it appears to be true, the party will investigate an initiative to establish a separate association for civil servants and pensioners in which all pension fund members can join to build a legal fund to respond aggressively where necessary.”

“It has become time to think ahead and proactively act to stop the Guptas and any other opportunists in their tracks and to ensure that there is no repetition of the Transnet Pension Fund fiasco now playing out in the courts, “said Adv. Alberts.

Read the original article in Afrikaans on Die Vryburger

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