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Matjila rejects claim he accepted R5m bribe to fund VBS Mutual Bank

Advocate Terry Motau’s report on the bank’s collapse lists unsubstantiated allegations that former PIC CEO Dan Matjila accepted a bribe.

A screengrab of former Public Investment Corporation (PIC) CEO Dan Matjila appearing at the commission of inquiry into the Public Investment Corporation (PIC) on 11 July 2019.

PRETORIA - Former Public Investment Corporation (PIC) chief executive Dan Matjila has reiterated his rejection of the allegation that he accepted R5 million as a bribe to further fund the collapsed VBS Mutual Bank.

Matjila made the comments on Wednesday at the commission of inquiry chaired by retired Judge Lex Mpati, which is investigating numerous questionable deals involving the PIC.

The corporation’s exposure to VBS Mutual Bank was about R10 million which was inherited by the Government Employees Pension Fund.

Advocate Terry Motau’s report on the bank’s collapse lists unsubstantiated allegations that Matjila accepted a bribe.

Matjila strongly rejected the allegation.

"Being linked in a personal matter to the debacle at VBS has to be the lowest of the low in allegations about my leadership at the PIC. What's more, as someone who has placed integrity above all other values, the mere suggestion has been deeply upsetting to my wife and children."

Matjila referred to Motau’s report where it stated he could not make a definitive finding against him in this regard and it warranted further investigation.

"I'd like to state categorically, here and now, that I welcome any investigation regarding this sorry saga, which I consider to be hearsay based on two people who are heavily implicated in the malfeasance at VBS."

The commission has adjourned until Monday.

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