PRETORIA, SOUTH AFRICA – JULY 8: Former Public Investment Corperation (PIC) CEO Dan Matjila gives evidence during the Judicial Commission of Inquiry into the PIC on Monday, 8 July 2019. (Photo by Gallo Images / Phill Magakoe)
The final report into the PIC inquiry is now due in December.
PRETORIA, SOUTH AFRICA – JULY 8: Former Public Investment Corperation (PIC) CEO Dan Matjila gives evidence during the Judicial Commission of Inquiry into the PIC on Monday, 8 July 2019. (Photo by Gallo Images / Phill Magakoe)
President Cyril Ramaphosa has allowed retired Constitutional Court judge, Lex Mpati, additional time to finalise his report on everything we have heard at the PIC inquiry.
President Ramaphosa extends PIC Commission of Inquiry https://t.co/zYw5Ong1W7
— PresidencyZA (@PresidencyZA) October 22, 2019
The commission’s mandate, since it was launched in October 2017, was to probe allegations of impropriety under the watch of former CEO, Dan Matjila.
At the centre of the inquiry, was the question of the nature of the PIC’s relationship with some of the businesses if funded. These are the companies that featured prominently in the commission:
While Matjila was revered for his role in steering the PIC from an entity worth R308-billion to a colossal asset manager valued at more than R2.1-trillion, it was his ethics that were questioned when it came to deals such as the controversial funding of Steinhoff.
The former CEO, on his closing remarks, noted how the bulk of the investigations were centred around black-owned businesses.
“It may just be my perception but a very difficult one to dismiss in the, in view of the fact that we dealt with many mainly white-owned companies,” he said.
The PIC inquiry concluded its business in the latter parts of August, and was expected to submit its final report on Thursday, 31 October.
However, at the request of Mpati, the Presidency revealed in a statement that Ramaphosa has considered extending the deadline. At this time, it is not clear what the reason behind the extension request is.
The two-year process of unravelling the alleged webs of deceit that may have captured one of South Africa’s most prised state parastatals did yield an enormous amount of information, with 77 witnesses interrogated in eight months.
Alas, Ramaphosa has offered Mpati a two-month extension to file his final report on everything that was interpreted from the PIC inquiry, with accompanying recommendations.
The deadline will now be on Sunday, 15 December. This makes it the third time Ramaphosa has granted Mpati more time to get his affairs in order.