News / South Africa

Gopolang Moloko
2 minute read
9 Jul 2018
1:36 pm

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

Gopolang Moloko

The UDM leader challenged the PIC boss: 'The deeper you scratch, the more you find out … Dr Matjila, please tell us, broer, who got the missing R100m in #PIC deal?'

Public Investment Corporation CEO Dan Matjila. Picture: Gallo Images

United Democratic Movement (UDM) leader Bantu Holomisa has reignited allegations of corruption that are supposedly linked to the Public Investment Corporation (PIC) and PIC CEO Dr Dan Matjila.

Holomisa appears to have penned a letter to President Cyril Ramaphosa asking him to relook at the corruption allegations against the PIC, which manages pension funds of government employees, and Matjila.

Taking to social media on Monday, he claimed to have received new information highlighting alleged improper deals involving Matjila and the institution under his leadership.

In September last year, the PIC board cleared Matjila of any wrongdoing following an internal audit triggered by allegations that he had allocated funds improperly.

Matjila was recalled after claims that he used funds reserved for social spending to bankroll another business.

The corporation this year stood by Matjila against rumours of a false suspension related to a probe into some questionable investments. The PIC said they viewed media reports as “unsubstantiated allegations” and a campaign to “destabilise the PIC”.

Holomisa in his letter claims to even have bank account details that may help prove that R100 million went missing under Matjila’s watch.

Holomisa in his post claims the allegations relate to a Kilimanjaro Sakhumnotho Consortium R1.7-billion deal that was approved in 2015 by the PIC board.

The UDM leader’s letter states: “The R1.7 million was to allegedly be spent on ‘Project atlas’, wherein the consortium wanted money to buy 91.8% of the share capital of Tosaco Energy.  The PIC, however, had allegedly disbursed R1.8 billion, which means that there is a R100 million unaccounted for.

“It could therefor mean that Dr Dan Matjila had approved the alleged additional spend of R100 million. Dr Matjila should either produce the minutes of the board meeting at which the decision had been made to increase the amount or he should provide an addendum to the contract between the PIC and the consortium that explains the change in the amount.”

Holomisa questioned where the R100 million was in his bulleted transcript to the president.