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Inquiry hears how businessman tried to make PIC, SA Home Loans pay R45m for deal

Zakheni Dlamini, who is director of business development at SA Home Loans, testified on Wednesday morning at the inquiry into alleged impropriety at the corporation.

A YouTube screengrab shows Zakheni Dlamini at the PIC inquiry on 26 June 2019.

JOHANNESBURG - The Public Investment Corporation (PIC) inquiry heard on Wednesday how businessperson Kholofelo Maponya tried to make the PIC and SA Home Loans pay him R45 million for brokering a deal between the two companies.

Zakheni Dlamini, who is the director of business development at SA Home Loans, testified on Wednesday morning at the inquiry into alleged impropriety at the corporation.

Dlamini told the commission of an SA Home Loans request of R10 billion from the PIC that Maponya wanted to be paid for.

Maponya is also a non-executive director of SA Home Loans.

Dlamini told the commission that during meetings by SA Home Loans to secure a loan from the PIC, Maponya approached SA Home Loans CEO Kevin Penwarden for his outstanding R45 million bill for facilitating the deal between the two.

He said by September, SA Home Loans had still not received the money from the PIC when Maponya called him for a private meeting along with Wellington Maseksa, another non-executive director.

“He said the non-payment of the R45 million was the main reason why SA Home Loans was not able to secure approval of the R10 billion funding. He said that we as SAHL needed to find a way of regulating the payment of R45 million and to include it into the new facility SAHL was applying for.”

Dlamini said Maponya told him that Dan Matjila indicated that if SA Home Loams could make the payments to financial services company MMI Holdings appear to be regular, he would support them.