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Key witnesses are expected to testify before the Commission of Inquiry into the Public Investment Corporation (PIC) when it resumes on Monday.
The new round of public hearings take place amid death threats against witnesses who have testified before the inquiry and a walk-out by the corporation's board which quit early this month.
"Evidence will be presented by key witnesses. However, the names of the witnesses will be made public when they appear before the Commission to give their evidence," the commission said in a statement.
The commission revealed that witnesses who have testified before the commission have received anonymous death threats. The inquiry, headed by former president of the Supreme Court of Appeal, Justice Lex Mpati, submitted its interim report to President Cyril Ramaphosa on February 15, but the report has not been made public.
The PIC was this month rocked by a sudden resignation of the board, which said there had been a "concerted effort" to discredit its function. In their letter of resignation, the nine non-executive board members further stated that there had been "various allegations against at least four directors for now".
The letter did not divulge the allegations levelled against them. The board’s chairperson, Mondli Gungubele, who is the deputy finance minister, was among those who resigned.
The process of appointing a new board is currently underway, according to the National Treasury.
The inquiry into the business affairs of Africa's largest state-run asset manager was established following damaging allegations of poor governance and impropriety against its executives. Evidence heard so far has shed light on how the R4.3bn cash injection into AYO Technology Solutions in December 2017 was concluded, including the alleged influence of former CEO Dan Matjila.
AYO is linked to businessman Iqbal Survé, the executive chairman of Independent News Media, who holds an indirect stake in AYO through African Equity Empowerment Investments. Survé once described Matjila as a friend, according to evidence by PIC Assistant Portfolio Manager, Victor Seanie.
Seanie told the inquiry that PIC managers were not allowed to negotiate the R43 a share initial public offering stock price for the company’s listing on the JSE in December 2017, which they believed to be excessive.
He said during the meetings, AYO representatives appeared to be dictating terms to the PIC, not the other way around.
AYO has welcomed the work of the inquiry, with Survé saying he is willing to present himself before the commission if requested to do so.
Shares of the company, which was touted as largest listed black economic empowered ICT group in the country, have significantly lost value since listing.
