Admin
08 Jul, 2019
Holomisa writes to PIC Commission re alleged R2.5m personal loan from VBS to Dr Dan Matjila, former PIC boss
Dear Advocate Lubbe SC DR DAN MATJILA’S EXPECTED TESTIMONY AT THE MPATI COMMISSION: FURTHER GERMANE INFORMATION RECEIVED FROM A WHISTLE-BLOWER I herewith acknowledge receipt of your email, dated 6 July 2019, wherein you informed me that – according to the rules of the commission of inquiry into allegations of impropriety regarding the Public Investment Corporation (‘the Commission’) – I may today be implicated in evidence to be submitted by Dr Dan Matjila, former Chief Executive Officer of the Public Investment Corporation (PIC). I wish to inform the Commission about information that has been provided to me by a whistle-blower regarding an alleged forensic review report (dated 15 April 2019) (‘the report”) as commissioned by the PIC board from Nexus Forensic Services regarding a VBS Mutual Bank investment transaction. 1. According to the alleged report, Dr Matjila, together with the PIC’s former chief risk officer Paul Magula and the head of legal Ernest Nesane received loans from VBS Mutual Bank. The allegations about the loans to the latter two gentlemen have been widely reported on in the media. 2. Dr Matjila has never declared a VBS Mutual Bank loan allegedly extended to him, to the value of R2 456 761.66, as required, which may constitute a conflict of interest and even possible criminal conduct. 3. The term of Dr Matjila’s loan is alleged to be a thirty (30) year period, which raises the questions whether a) the loan was extended at arm’s length and b) such a lengthy repayment period was the standard for VBS Mutual Bank? 4. In terms of the conditions of the loan, it is allegedly unclear whether the loan was intended to ever be repaid, or whether it is/was in fact being repaid. The only way to establish the veracity of this allegation is to scrutinise the dates of disbursement and repayment. 5. If there is any truth in these allegations, it raises serious concerns about Advocate Terry Motau SC’s report called: “The Great Bank Heist”. Why did Advocate Motau’s report omit Dr Matjila’s alleged loan, especially given his position as PIC CEO? 6. Why did Advocate Motua’s report exclusively focus on Messrs Magula and Nesane? Common sense would dictate that Advocate Motau would have declared Dr Matjila’s alleged loan even if no wrongdoing was apparent. 7. The alleged report apparently states that Dr Matjila holds ten directorships, but according to the whistle-blower, around two have not been disclosed as required. 8. As we all know, Advocate Terry Motau’s report revealed that a cash sum of R5 million was apparently “stolen” from VBS Mutual Bank, allegedly to bribe Dr Matjila to obtain his cooperation in facilitating the funding of VBS Mutual Banks’ requirements by the PIC. Famously, the money was reportedly carried by helicopter from Makhado to Lanseria Airport. If the alleged report is anything to go by, one could argue that Dr Matjila had personally benefitted from nearly R7.5 million of VBS Mutual Bank money. 9. Nexus Forensic Services’ alleged report apparently recommended that the PIC board should pursue criminal investigation. If that is true, the question is what has the board done about this recommendation and if nothing, why? Lastly and with respect, given the information the whistle-blower has imparted to me, I wanted to establish whether the Commission is aware of this alleged report and if not, could the Commission make enquiry into obtaining the said report to assist in its investigation. Yours sincerely Mr Bantu Holomisa, MP UDM President
Admin
29 Sep, 2018
To give PIC CEO Dan Matjila a golden handshake is preposterous
We are all aware that there will be a commission of inquiry which shall investigate the mess at the Public Investment Corporation (PIC). Despite the announcement, we have for several months waited with bated breath to hear who will serve on the commission and what the terms of reference will be. We, in today’s Mail and Guardian, read that PIC chief executive officer Dr Daniel Matjila has approached the President with a view to exit through the back door with a golden handshake. This is preposterous and is tantamount to the police giving the get-away car’s key to a bank robber. The United Democratic Movement (UDM) rejects this notion outright. Matjila should be suspended immediately and be made to explain himself to a commission of inquiry. Most importantly, he, and the current board, should face the music and pay the price should they be guilty of wrong-doing. There seems to be scurrying about in the corridors of power to say a quick farewell to Matjila before he spills the beans. It’s not only several prominent families and powerful individuals who might have their hands caught in the cookie jar, but possibly a few political parties. We have certainly heard Zonkizizwe Investments being mentioned, which we all know is an ANC enterprise. Bizarrely, we have even heard how Matjila’s alleged girlfriend benefited from PIC cash. It leaves a bitter taste in the mouth when you chew on the fact that Finance Minister Nene, who once served as PIC board chairperson, now must drive the process of putting a commission together. This might shed some light on why it’s taking so long to get the commission off the ground. I will be interviewed today by Advocate Budlender SC and his team of forensic auditors to give guidance on how the UDM would see this matter pan out. The commission should establish which methods and schemes were used to syphon money from the PIC and make recommendations on how to prevent this kind of crime in future. This is exactly why Matjila should not be allowed the easy way out; he certainly has much explaining to do.
Admin
16 Sep, 2018
Harassment of PIC whistle blowers
In reference to an article published on Fin24 (https://www.fin24.com/Economy/pic-moves-to-discipline-another-executive-20180914?isapp=true) the United Democratic Movement (UDM) condemns what can only be called permitted harassment of whistle blowers at the Public Investment Corporation (PIC). One is suspicious at government i.e. Minister Nene and President Ramaphosa’s handling of the matter of instituting the commission of inquiry into the PIC. To make matters worse the terms of reference has not yet been published, nor have the commissioners been appointed. Something is very wrong here; it does seem as if government is pulling all the stops to delay the process. Only they will know the reason. The UDM has persisted in calling for Dr Dan Matjila, PIC’s chief executive officer, to be suspended because of the possible influence he might bear at the PIC until the commission kicks off its work. The UDM calls on government to institute a total moratorium on disciplinary processes at the PIC until the commission’s work is done and its findings are made public. Government is playing a game that could have dire consequences for the Government Employees Pension Fund. Issued by: Mr Bantu Holomisa, MP UDM President
Admin
17 Aug, 2018
PIC commission to start it’s work in “due course”
The United Democratic Movement (UDM) has noted that President Ramaphosa has announced the appointment of a commission of inquiry to probe the Public Investment Corporation (PIC) and the dark cloud of corruption allegations hanging over the institution. It is however frustrating that the names of the chair of the commission and the supporting team, as well as the detailed terms of reference will be announced “in due course”. What does National Treasury mean with “in due course”? They have been saying this for the last three weeks or so; it would appear that this could be months from now, which is enough time for the guilty to send the proof of the misdeeds to the shredder; if it has not happened already. The UDM outright rejects the idea that the PIC board – which includes CEO Dr Dan Matjila who is also under the cloud of suspicion – should be given the task of appointing the forensic company. The board appointing the audit firm is tantamount to a thief appointing his own judge and jury. National Treasury or the commission itself should appoint such a forensic company. To make matters worse, the board has neglected its fiduciary duty by outsourcing the decision to suspend the CEO to the forensic auditors. The UDM reiterates our call that Dr Matjila must be immediately suspended until the commission concludes its work.
Admin
17 Oct, 2013
Dirco DG Matjila on special leave; multi-faceted forensic audit required
Dirco DG Matjila on special leave; multi-faceted forensic audit required statement Mr Bantu Holomisa (UDM President) (20 September 2013) We welcome the news that the Director General (DG) of the Department of International Relations and Cooperation (DIRCO), Mr Jerry Matjila, has been placed on special leave following the United Democratic Movement’s (UDM) exposure of alleged irregular expenditure to the tune of half a billion rand of the African Renaissance and International Co-Operation Fund (ARF). Apparently the DIRCO DG, who is the accounting officer for the ARF, acted with the blessing of the Minister of International Relations and Cooperation, Ms Maite Nkoana-Mashabane, as well that of President Zuma. The only way to get to the bottom of this mess is for a forensic audit to be instituted; it cannot merely be a departmental investigation which, we hear, has been mooted by the Minister. The UDM believes that an audit team consisting of National Treasury, the Auditor General, the Hawks, the National Intelligence Agency and Interpol must be constituted to do justice to any investigation of the alleged irregular expenditure. The Public Service Commission, whose task it is to investigate, monitor, and evaluate the organisation and administration of the Public Service, should also be involved in determining the DG’s fate.
