Finance minister Nhlanhla Nene is reportedly opposing the United Democratic Movement’s (UDM) demand to immediately suspend the head of the Public Investment Corporation (PIC) because his department is already investigating the state-owned institution.
On June 15, the UDM asked the Pretoria high court to direct Nene to suspend PIC chief executive Dan Matjila and to empower the minister to take decisions on removing or disciplining the entity’s head over from the PIC’s board.
The UDM’s request followed accusations that arose in September 2017 that Matjila used PIC funds to support the business of a woman with whom he was romantically involved.
Matjila denied these claims.
“The CEO provided detailed documentary evidence of the decisions made by the PIC and that the process…
