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Dan Matjila, other PIC executives reported to the Hawks, inquiry hears

Standard Bank legal counsel Ian Sinton said the executives had been reported to the Hawks in relation to the alleged facilitation of an irregular R10 billion loan that included a R45 million kickback from the PIC.

A screengrab shows Standard Bank's Ian Sinton giving evidence at the Zondo Commission of inquiry on 17 September 2018.

JOHANNESBURG - Standard Bank's legal counsel Ian Sinton said SA Home Loans CEO Kevin Penwarden has reported former Public Investment Corporation (PIC) CEO Dan Matjila to the Hawks for solicitation of a bribe.

PIC executives Royith Rajdhar and Wellington Masekesa and businessman Kholofelo Maponya have also been reported to the Hawks.

Sinton testified at the PIC commission of inquiry about the alleged facilitation of an irregular R10 billion loan that included a R45 million kickback from the embattled PIC.

Standard Bank is a 50% shareholder of SA Home Loans.

Sinton said Penwarden reported the matter.

Penwarden said he complied with his statutory obligations.

Sinton said Maponya was taking the PC and SA Home Loans to court for failing to pay his fees on a R9 billion loan initially agreed to five year prior.

Maponya’s company, Matome Maponya's Investment Holdings, sought R45 million after he initiated the deal, which involved the PIC buying a stake in SA Home Loans.

Sinton said the PIC agreed to buy a 50% stake, 25% of which would be held by Maponya’s company as a BEE partner.

Once Matome Maponya Investment (MMI) had secured the shares, Maponya issued SA Home Loans with an invoice of R45 million signed by Matjila as a commitment fee.

Sinton said SA Home Loans refused the request and Maponya threatened legal action.