Discover and read the best of Twitter Threads about #picinquiry

Most recents (6)

#PICInquiry resumes today at 9:30
Dan Matjila will be on the stand for the 3rd week. He was meant testify on #Ayo today. But assistant to Commissioner Gill Marcus is absent & the whole team needs to be present. Matjila will speak on Erin Energy, Daybreak Farm & EchoBank. #eNCA
#PICInquiry PIC got into a number of questionable companies, allegedly not following proper processes. Matjila will answer to these allegations and define his role in the investments. #eNCA
#PICInquiry Matjila starts off by speaking on the #DayBreak Farms deal whether the PIC invested into the company that was basically insolvent. Matjila says Roy Rajdhar explained in detail about the investment & it was made to drive transformation in agriculture sector. #eNCA
Read 15 tweets
JUST IN: Newly appointment Deputy Finance Minister David Masondo dahs the #PIC will continue to fulfill its mandate. It will commit R9bn towards development property investments, including new developments, refurbishments and upgrades & rural development investments. #eNCA
Masondo also says the value of African & offshore investments by the #PIC is expected to increase to R15.6bn
While contributions to education, health, housing, infrastructure and environmental sustainability SMMEs & investments in priority seconded are expected to amount to R10bn
Masondo says the deadline for the final report of the #PICInquiru was April 2019 but it’s expected on the 31st July 2019. #eNCA
Read 4 tweets
#PICInquiry Dan Matjila continues with his statement this morning. He starts off with speaking about anonymous emails by “James Nogu” #Matjila goes into how a business partner Lawerence Mulaudzi’s wife approached him to help with marital issues. #eNCA
#PICInquiry Matjila says that Mamodupi Mohlala-Mulaudzi said she has sensitive info concerning the PIC that she wants to share with Matjila. He says he told Mulaudzi about the call but was told that his wife is bitter and had people spying on him. #eNCA
#PICInquiry Matjila says he was told that Mulaudzi has an unhealthy relationship with Mr Paul Magula(heavily implicated in VBS) #eNCA
Read 52 tweets
The #PICInquiry is running out of time to probe some of the major transactions where the asset manager has lost billions of rand in value in JSE-listed stocks.…
The #PICInquiry has seen its fair share of explosive, controversial, underwhelming as well as fumbling, testimonies. Here’s what has transpired to date and in my opinion, some of the questions that we still need answers to … before it is too late, writes Ayanda Mdluli.
@busrep Some of the witness testimonies have not only given #PICInquiry evidence leader, Advocate Jannie #Lubbe, sleepless nights but, have visibly irritated those conducting the Inquiry.
Read 21 tweets
#PICInquiry will resume at 10AM today. Tshepo Mahloele will take the stand. He will continue with his testimony. He the chairman of Lebashe & CEO of Harith General Partners. These are the two companies UDM leader Holomisa implicated in his testimony weeks ago. #eNCA
Mahloele will continue with his testimony today. He will explain how he went about leaving he PIC.and how Harith was established. Yesterday’s tweets touches on the matter. #eNCA #PICInquiry
Harith Fund Managers was set up in 2007. This was to manage investments of Pan-African Infrastructure Development Fund (PAIDF) Harith General Partners was later set up to raise money for a second fund (PAIDF 2) #eNCA #PICInquiry
Read 20 tweets
#PICInquiry continues today. It’s a full day of witnesses. First on the stand is Lawerence Mulaudzi. He is said to be a recent beneficiary of PIC funding. He wants to put his version to the Inquiry specially around assistance he gave Pretty Louw. #eNCA
In 2015 his company Kilimanjaro Capital wanted to make an offer to Total SA(TOSACO) because they wanted to dispose of their investment as it had reached maturity. This is when they made a request to meet with them PIC CEO Dan Matjila. #eNCA #PICInquiry
#PICInquiry After meeting with the PIC this is when KiliCap prepared an investment consideration pack and funding support request from the PIC. They also made funding requests to Nedbank & Standard Bank. #eNCA
Read 33 tweets

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