Matjila: Gigaba era at Treasury marked instability at the PIC
Former PIC CEO Dan Matjila has said he was tipped off that there were secret plans to remove him after Malusi Gigaba became finance minister in 2017.
Matjila was testifying for the second day before the commission of inquiry into the Public Investment Corporation (PIC) on Tuesday. The commission, led by Justice Lex Mpati, is investigating allegations of mismanagement of the asset manager, which oversees R2trn in investments on behalf of more than 1.2 million state workers.
Matjila described the period under which Treasury was led by Gigaba and former deputy finance minister Sfiso Buthelezi between March 2017 and November 2018 as one of “instability” at the PIC.
Gigaba and Buthelezi were parachuted into Treasury after former finance minister Pravin Gordhan and his deputy Mcebisi Jonas were axed by former president Jacob Zuma. Matjila said the PIC became polarised with the removal of Gordhan and Jonas and there were divisions at the executive level of the PIC.