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#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
#PICInquiry Matjila says he was approached by a journalist that an article was going to be written where screenshots show where Matjila asked Mulaudzi to assist the ANC with January statement preparations as per request from top politician. #eNCA
#PICInquiry Matjila says the screen shot could have been obtained from Mulaudzi’s cellphone. #eNCA
#PICInquiry Matjila says he relayed the message to PIC beneficiaries about a “top politician” wanting help with Jan ANC statement because he didn't want the PIC to get involved. He later admits that by asking these people to assist he was inadvertently involved. #eNCA
#PICInquiry Matjila is now addressing the first time he heard of James Nogu emails. He has linked Dr Mkhwanazi to the emails saying the email from Nogu CCd Pathela Investments, where Mkhwanazi was a director. #eNCA
#PICInquiry Matjila says another set of emails were sent out days later with the subject line: “PIC CEO FUNDS GIRLFRIEND” this email was sent to employees and directors. Matjila says the DFM Buthelezi told him to respond as the allegations are serious. #eNCA
#PICInquiry Matjila was told to respond to the allegations from the James Nogu emails to deputy Chairman Dr Mkhwanazi (that was appointed by Gigaba) and would meet with him to discuss next steps. #eNCA
#PICInquiry Matjila says upon meeting with the Chairman (Sfiso Buthelezi) he saw the deputy chairman with (Dr Mkhwanazi) He says the first thing Buthelezi says “Chief can you come clean on this girlfriend story?” Matjila says he was taken aback but said there is no truth to it.
#PICInquiry Matjila says many they anonymous emails sent were part of a concerted and unremitting effort to discredit him as the CFO. #eNCA
#PICInquiry Matjila tells the commission when he met Pretty Louw. Gill Marcus asks him if he has ever gone to her beauty salon. He laughs and says my nails don’t look too good, she says it’s not just nails done at a spa but he says he hasn’t been there. #eNCA
#PICInquiry Matjila says that he was requested by the Internal Audit to explain why a payment of R300 000 paid to Pretty Louw because her and her business partner was in financial trouble. #eNCA
#PICInquiry Matjila says that he had seen the proposal of Pretty Louw did not meet the criteria of the PIC and advised she approach the DTI IDC and NEF for funding of their company. #eNCA
#PICInquiry Matjila is asked in what capacity did he ask Mulaudzi to pay R300 000 Pretty Louw and Matjila says it was in a personal capacity. #eNCA
#PICInquiry Matjila says the matter was reported to the Internal Audit Committee and the board cleared him. #eNCA
#PICInquiry Matjila is asked about the doctoring of minutes to a board meeting. Lediga asks what happened there given Matjila has been painted as ‘very powerful’ Matjila says he has sufficient to show how that was not the case. #eNCA
#PICInquiry Matjila days the company secretary Bongani Mathebula was clearing expressing her “rather jaundiced views in the mintiest drafter by her as opposed to signed and approved minutes” #eNCA
#PICInquiry Matjila is dealing with the allegation that he changed the minutes to the meeting and did not want the minutes to reflect the truth of the board meeting. He says the ‘doctoring’ of the minutes was a clever strategy to keep the allegations against him alive. #eNCA
#PICInquiry Matjilas says the tactic of doctoring mintiest was to keep allegations alive by using the media and other players like @BantuHolomisa he says this allegation was used by Holomisa in court application to attempt to justify his suspension. #eNCA
#PICInquiry Matjila is dealing bit by bit with the allegations made against him. Remember when he was accused of demanding access to emails and IT system? Matjila says he asked at a board meeting to have access to info as the CEO. Given he was implicated. #eNCA
#PICInquiry Matjila says he wanted access because he had been cleared by the board on the allegation of giving money to his girlfriend so he wanted to know what was going on and who sent what emails. He was given a verbal mandate by the board to have access. #eNCA
#PICInquiry Matjila says that he convinced that the “James Nogu” emails don’t come from a whistleblower it is from someone within the PIC. #eNCA
#PICinquiry Lediga asks Matjila what kind of companies or investments did political parties pressurize him to invest into. Matjila says “My God, there are just too many”
Matjila says NEF, Adocock, Erin Energy, Sasol are some of the Companies. #eNCA
#PICinquiry Matjila says that many people very close to political parties would ask for the funding not necessarily those within the party. #eNCA
#PICInquiry Matjila now gets into the part of the impact of politics on the PIC. He says his biggest challenge was that the handling of deals that orgninayed from very powerful & influential people including the office of the chairman. #eNCA
#PICInquiry Matjila says he had countless occasions been approached by many people of influence: bankers, financiers, businesspeople and politicians. He says he didn’t only get requests from the ruling party but all parties to invest. #eNCA
#PICInquiry Matjila says majority of the investment proposals by the politicians & influential people were not fruitful. #eNCA
#PICInquiry Matjilas says that in his estimation and long experience that whenever there is change or turmoil in the ANC there was equal pressure and movement within the PIC structures. #eNCA
#PICInquiry Matjila says that the motives of constant change of Finance ministers and deputy finance minister is a merry go round and it’s a way to control the “piggybank” PIC #eNCA
#PICInquiry Matjila says that he has never had any partisan affiliation to any political party or leanings towards any faction of a political party. Marcus says this is in contradiction to what he said earlier about seeking help to fund ANC Jan. #eNCA
#PICInquiry Matjila says he had political pressure to fund #SAA. He says in August of 2017 Chairperson of SAA Dudu Myeni requested funding of R6bn.
#PICInquiry Matjila says it was unusual for the chairperson of an SOE of any company for that matter to request funding. He says this was a function of the CEO or CFO. #eNCA
#PICInquiry Matjila says Myeni is an extremely prominent political figure whose close ties to then President Zuma were publicly well known. He says there was an overt expectation of funding to help SAA in its rescue plan. #eNCA
#PICInquiry Matjila says he informed Myeni that the PIC would first have to go through with the mandatory necessary investment investigations and processes which he says she was clearly unhappy about. #eNCA
#PICInquiry Matjila says ultimately the PIC could not fund due to the low investment grade rating of SAA. #eNCA
#PICInquiry Matjila is asked where this meeting took place and if minutes were taken. Matjila says no minutes were taken as it was an informal meeting. Gill Marcus says then it’s chat because how can no minutes be taken in such an important meeting? #eNCA
#PICInquiry second investment of political pressure was the National Empowerment Fund for R3bn
He says this was first done in 2016 but to success due to not meeting requirements. And a second time Paul Magula has watered down his second risk report in favour if the transaction.
#PICInquiry Matjila now speaks on when Nhlanhla Nene and Mondli Gungubele became ministers. Matjila says he wanted to meet with Gungubele to inform him on the media attacks on PIC but he was ignored and so were the requests. #eNCA
#PICInquiry Matjila says to his surprise Gungubele was not interested in those issues and wanted to take him through the PIC investment strategy. Matjila says he suspects that he was being briefed by some parties in PIC. #eNCA
#PICInquiry Matjila said it was later revealed that Gungubele was being briefed by the company secretary Bongani Mathebula who was at the time on suspension for distributing confidential info. #eNCA
#PICinquiry Matjila says this was an example of how governance was failing at the PIC and he believes the deputy minister Gungubele had no understanding of the PIC or his own role. #eNCA
#PICInquiry Matjila goes into further detail on his exit at the PIC. He says on 23Nov2018 by the chairman (Gungubele)to discuss PICs participation in saving #Edcon from collapse. Minister of Economic Dev Patel, other CEOs & EDCON advisors Rothschilds led by Martin Kingston #eNCA
#PICInquiry Matjila says that he explained that the PIC was approached a number of times before & did not support the proposals at the time because the analysis showed that there was still a lot of downside & PIC was proven correct that EDCON failed to recover. #eNCA
#PICInquiry Matjila says EDCON’s proposal did not meet minimum return even though it had high social impact returns in terms of job saving. He says none of clients mandates make provision for asset category. #eNCA
#PICInquiry Matjila says this was not the first time the #PIC was called to the rescue to save jobs. #eNCA
#PICInquiry Matjila says he was called on 23Nov2018 to a meeting where the board told him that they’ve accepted his resignation letter with immediate effect. Matjila says he protested and said this is not what his exit proposal contains and his intention was to given notice #eNCA
#PICInquiry Matjila says he had a whole proposal for his exit but chairman (Gungubele) told him that his contract of employment been terminated. He said that’s when he told the board he does not accept their decision and this separation is not amicable as in the contract #eNCA
#PICInquiry Matjila said he never expected to part ways with a conk sure that he served for 15 years in the manner the board chose. He says that was the last time he set foot at the PIC. Matjila says the money due to him has still not been paid despite testimony before inquiry.
#PICInquiry Matjila says it is now very clear to him that at least part of the realms that he had to be removed as CEO was to ensure that EDCON deal takes place ahead of elections. #eNCA
#PICInquiry Matjila says even though Gungubele was not part of inv committee it was clear from emails: “intervene to ensure PIC Investment Committee meets...a massive fight between #Cosatu and UIF,PIC, Governemnt and ANC which will have long term repercussions of alliance.”
#PICInquiry Matjila will continue with his testimony on Thursday. He is set to deal with the terms and references of the inquiry. He will also sit next week given he still needs to be cross examined. #eNCA
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