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Ramaphosa set to act on PIC Inquiry revelations?

The testimonies of the PIC's suspended CEO Matshepo More and her predecessor, Dan Matjila, were pivotal to the work of the commission.

FILE: Former Public Investment Corporation (PIC) CEO Dan Matjila appearing at the commission of inquiry into the PIC on 8 July 2019. Picture: Kayleen Morgan/EWN

JOHANNESBURG - While commissions of inquiry dominated the news last year, there are now questions as to whether 2020 will be the year President Cyril Ramaphosa brings to book those who abused resources at state-owned companies.

The state capture commission, Public Investment Corporation (PIC) Inquiry and Mokgoro Inquiry all dominated headlines while looking into allegations of abuse and capture of state resources.

President Cyril Ramaphosa appointed the inquiries following years of media reports exposing the reach and undue influence on the state.

The testimonies of the PIC's suspended CEO Matshepo More and her predecessor, Dan Matjila, were pivotal to the work of the commission.

Matjila was at the helm when the PIC entered into controversial deals and More's appointment came just before the hearings started.

But More's stint was cut short when she was suspended for interfering with the work of the commission, something she vehemently denied during her testimony.

"That's the last communication I had. I had an agreement with Advocate Lovell to stay away in all respects. No one has come to me directly and said: 'Matshepo, the witnesses are afraid to come because of you.'"

A few months later, it was Matjila's turn to take the stand and account for deals signed during his term.

"The commission is here dealing with almost 2% of the portfolio and some of the assets that are in this 2% portfolio are actually performing well."

Matjila also made startling revelations on political interference at the PIC and how many thought of the corporation as a bottomless pit.

Despite questionable contracts signed during his time, like the R4.3 billion Ayo Technologies deal, he insisted that he is happy with the work he did at the PIC.

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