On 3 October 2023, Daily Maverick published an article titled, PIC chief to continue Labour Court battle to defend the firing of CFO Matshepo More. In the initial version of the article, it was stated by Daily Maverick that an attempt was made to contact More for comment but did not receive any.
Former Public Investment Corporation head Dan Matjila signed an "irrevocable undertaking" to buy R4.3 billion worth of shares in IT group AYO in early December 2017 without telling staff, the Western Cape High Court has heard.
Former Public Investment Corporation head Dan Matjila has denied acting like a "dictator" during his tenure at the asset manager after being criticised by a former employee in the Western Cape High Court.
Extracting money from the Public Investment Corporation for dubious projects seems to have been easy if you were willing to shell out massive ‘fees’ to connected gatekeepers. That’s the implication of the latest investment debacle amaBhungane has uncovered involving the troubled state.