Today's Labour News

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picBusinessLive reports that the inquiry into governance issues at the Public Investment Corporation (PIC) has heard that the corporation’s board allowed its former CEO, Dan Matjila, to run investigations into leaked information that implicated him in order to target whistle-blowers.  

The PIC's former executive head of risk, Paul Magula, was testifying at the inquiry on Monday.  Magula was dismissed from the PIC in 2018 due to unsatisfactory performance and serious allegations of negligence that stemmed from his time as a board member of VBS Mutual Bank.  Magula’s testimony at the inquiry included that the board, after exonerating Matjila in respect of the VBS matter, “saw fit to allow him to handle the matters of leakage of information on allegations that affect him”.  In essence, after finding that Matjila had done nothing wrong, the board allowed him to investigate the source of leaks that had implicated him in the first place.  That power, which also extended to PIC CFO Matshepo More, and executive head for human resources Chris Polwane, was later “instituted as a tool to victimise and dismiss targeted staff members”, Magula said.  He claimed that PIC company secretary Bongani Mathebula, IT security manager Simphiwe Mayisela, executive head for IT Vuyokazi Menye and he were all targets who were either dismissed or suspended.

  • Read the full original of Warren Thompson’s report in the above regard at BusinessLive
  • Read too, PIC inquiry hears that executives were used as rubber stamps for salary adjustments, Business Report

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