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Marcus says More equally to blame for PIC mess

Through most of Matshepo More's testimony, Gill Marcus asked her to give insight on what she knows about the running of the PIC and not to refer the commissioners to other employees.

A screenshot of former Reserve Bank governor Gill Marcus at the PIC inquiry on 28 January 2019.

JOHANNESBURG – Former Reserve Bank Governor and commissioner at the Public Investment Corporation (PIC) inquiry Gill Marcus has highlighted that former Chief Financial Officer Matshepo More failed to concede that she and former CEO Dan Matjila bore greater overall responsibility for what happened at the PIC because of the positions they held.

More spent a second day on the stand at the PIC inquiry on Tuesday which has been looking into alleged impropriety at the corporation.

She has given some explosive revelations including how Matjila signed off on the R4.3 billion payment to Ayo Technologies before consulting with the asset manager’s portfolio management committee.

Through most of More's testimony, Marcus asked her to give insight on what she knew about the running of the PIC and not to refer the commissioners to other employees.

She said it was important for her to know where the responsibility lied.

“Absolutely, there’s no disagreement that everybody has a responsibility and accountability but there are some people who are more accountable than others because of the virtue of the position they hold. They hold that office that carried greater responsibility and that’s the part that I find missing in your testimony.”

Meanwhile, retired judge Lex Mpati has told More that he was worried about the running of the corporation.

The commission resumes on Wednesday morning with another witness expected on the stand.

However, the commissioners made it clear that Tuesday was the not the last time More would appear before them.

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