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Suspended PIC executive denies interference with inquiry

Jun 24 2019 15:42
Sibongile Khumalo

The suspended CFO of the Public Investment Corporation (PIC), Matshepo More, has rejected “unfounded” allegations that she interfered with the work of the inquiry.

More was suspended from the position in March, while acting as CEO of the company following the resignation of Dan Matjila in November. 

“I categorically deny that I have done anything that interfered with or has the effect of interfering with the work of the commission,” More said in her submission, as she gave evidence before the commission on Monday.

The inquiry is probing allegations of impropriety at the state-owned asset manager, which invests on behalf of civil servants’ pension funds.

Allegations of interference in the work of the inquiry emerged in March when a PIC employee giving evidence stated that there had been reports that staff members who had been asked to give evidence before the inquiry were asked to account.

The appointment of a lawyer by the PIC to provide legal assistance to PIC staff members who had been asked to present evidence before the inquiry also gave rise to claims of perceived interference.

Evidence leader Jannie Lubbe put it to More that some staff members did not trust the law firm appointed to provide legal assistance, fearing they may relay the information to More.

She reiterated that the allegations of interference against her were “unfounded and certainly not substantiated”.

Vuyani Hako, the Executive Head of Properties, was appointed acting CEO to replace More.

More also dismissed allegations of victimisation of staff, noting that a number of employees who have come up with the claims had not referred to any specific incident to support what she called "overly broad and unsubstantiated  allegations".

The inquiry continues. 

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