PIC says its CEO is not going anywhere


CAPE TOWN, June 1 – The Public Investment Corporation (PIC), which manages pension funds of South Africa’s government workers worth close to R2 trillion, on Thursday threw cold water on media reports that its chief executive Dan Matjila was about to be suspended.

In a statement, the PIC said the “persistent media report” were “false and malicious” after various media houses reported that Matjila would be suspended while a probe into various questionable investments by the PIC would be conducted.

“The PIC views these unsubstantiated allegations as part of a campaign to destabilise the PIC and cause harm to the institution’s reputation,” the statement said.

“The PIC would like to reiterate that Dr Matjila remains the CEO of the PIC and that the PIC management team continues to carry out the Corporation’s investment mandate and the important responsibility of managing the assets of its public sector clients.”