PIC ‘engaging’ with Sunday Times on article

Following threats to use legal means after the National Treasury press conference.
Picture: Dean Hutton/Bloomberg

The Public Investment Corporation (PIC) says that it continues to “engage” with the Sunday Times on the content of the article that was published over the weekend in which the newspaper claimed that PIC CEO Dr Dan Matjila said his job was at risk and that the government had requested R100 billion to recapitalise state-owned entities. 

“The article that appeared in the Sunday Times is distasteful and inaccurate and designed to drive a wedge between myself and the minister and myself and the board. We are evaluating our legal options,” said Matjila on Tuesday at the press conference convened with Minister of Finance Malusi Gigaba. Matjila promised the PIC would issue a lengthy statement dealing with the allegations on Wednesday. 

In response to whether they had issued a statement today, head of Corporate Affairs, Deon Botha, provided the following, which appears to be a step down from the dissatisfaction expressed yesterday: “The PIC is engaging with the Sunday Times regarding the content of the past Sunday’s article in order to find the most appropriate way to address the concerns the PIC and the Ministry of Finance have raised publicly. The PIC is confident that an amenable solution will be found with the newspaper that would enable the PIC CEO to express himself fully on record.”

So, the comments Matjila made to Sunday Times’ journalist Chris Barron appear to have been wildly misconstrued. Matjila faces another board meeting regarding his future this Friday, when the findings of an internal audit established to test the veracity of his representations are presented to the PIC’s board of directors. 

Read: Matjila not yet out of the woods

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