CEO of Africa’s Biggest Fund Rejects Misconduct Claims

The chief executive officer of Public Investment Corp Daniel Matjila,  has responded to a range of allegations made against him that he may face suspension

Matjila, said he wanted to defend his name against “unproven, spiteful and fake allegations.”

His employment contract ends in December 2019 after 15 years at the PIC.

Matjila said in an despatched statement today, that “he is 100 percent confident about stability and the security of the PIC will continue undiminished”

In his letter, Matjila pointed to the government employees’ fund return on investment of more than 10 percent over the past decade as well as PIC’s clean audits.

Matjila also tackled losses from PIC’s investment in troubled retailer steinhoff international holdings.

On Steinhoff, Matjila argued that the money manager was required to invest in the retailer as it was part of the index PIC is mandated to track, adding that the losses were “carefully moderated.”

He also wrote that  “The mere suggestion that I would accept a bribe of 5 million rand in cash  is detestable to me.”


Arierhi Odjirigho
Music lover, writing gives me joy and am a proud one. The secret of getting ahead is getting started


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