Matshepo more
PIC extends CFO Matshepo More's suspension
Matshepo More, who assumed the role of acting CEO while Dan Matjila was placed on suspension, was also suspended for interfering with the work of the commission...
The testimonies of the PIC's suspended CEO Matshepo More and her predecessor, Dan Matjila, were pivotal to the work of the commission.
Newly appointed interim Public Investment Corporation (PIC) board chair Reuel Khoza said that a permanent CEO would be appointed in the next three to six months.
The inquiry into alleged impropriety has entered its seventh month, with shocking revelations about deals and procedures at the corporation.
The commission says there was nothing in the private meeting between Advocate Jannie Lubbe and former PIC CEO Matshepo More that she agreed to that warrants an investigation or action.
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.
She gave details of the controversial R4.3 billion Ayo Technologies deal that's suspected to have been secured through the flouting of procedure.
The R4.3 billion Ayo Technologies deal was in the spotlight with allegations that the company flouted procedure to secure the deal.
Matshepo More started her testimony on Monday where she denied interfering in the work of the commission the allegation that led to her suspension.
Matshepo More's testimony got off to a slow start on Monday morning, with commissioners questioning her on her role at the PIC, its memorandums of incorporation and the power dynamics during her time.
Citing unnamed people, 'Bloomberg' reported that the PIC is considering Kennedy Bungane, formerly of Absa as its new CEO.
Matshepo More was placed on precautionary suspension last week after former and current PIC executives made a series of allegations against her at the PIC inquiry.
This follows the PIC board's decision to place current acting CEO Matshepo More on precautionary suspension with immediate effect.
Luyanda Ntuane said he was eventually given a suspension letter which accused him of procurement irregularities and sexual harassment, which he has denied.
Matshepo More temporarily takes over from Public Investment Corporation CEO Elias Masilela.