Streaming issues? Report here
volume_up
volume_mute

Home
arrow_forward
Business
arrow_forward
Politics

Dan Matjila received a R2.5m personal loan from VBS Mutual Bank - Bantu Holomisa

8 July 2019 6:52 PM
Tags:
Bantu Holomisa
The Money Show
Bruce Whitfield
PIC
Edcon
Public Investment Corporation
Dan Matjila
Deputy Finance Minister
PIC inquiry
Arabile Gumede
inquiry into the PIC
Arabile Gumede interviews Warren Thompson, a financial journalist at Business Day.
Former Public Investment Corporation (PIC) CEO Dan Matjila appearing at the commission of inquiry into the PIC.Kayleen Morgan/EWN

Dan Matjila – the ousted former CEO of the Public Investment Corporation (PIC) – believes that his dismissal was due to his opposition to funding the R2.7 billion rescue of Edcon – employer of 140 000 - ahead of the election.

The Deputy Finance Minister – who chairs the PIC board – shouldn’t contribute to decisions regarding the investment of enterprises which fall under the purview of the finance industry, Matjila said at the commission of inquiry into the PIC on Monday.

Matjila was CEO of the PIC for nearly four years and is, therefore, critical to the investigation.

The PIC is Africa’s largest fund manager.

Arabile Gumede (in for The Money Show’s Bruce Whitfield) interviewed Warren Thompson, a financial journalist at Business Day.

Scroll down to listen to the interview (and read quotes from it).

His leaked statement was only leaked to one media house… We’re only getting instalments of it each day…

Warren Thompson - financial journalist, Business Day

Allegations by Bantu Holomisa that Dr Matjila received a R2.5 million soft loan from VBS that was not disclosed… Some of the PIC’s appointees to the VBS board were implicated… Bantu Holomisa himself has been implicated in Dr Matjila’s testimony…

Warren Thompson - financial journalist, Business Day

He went out of his way… to raise the issue [regarding the Deputy Finance Minister’s input into decisions] …

Warren Thompson - financial journalist, Business Day

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Dan Matjila received a R2.5m personal loan from VBS Mutual Bank - Bantu Holomisa


8 July 2019 6:52 PM
Tags:
Bantu Holomisa
The Money Show
Bruce Whitfield
PIC
Edcon
Public Investment Corporation
Dan Matjila
Deputy Finance Minister
PIC inquiry
Arabile Gumede
inquiry into the PIC

More from Business

business-unusual-square-logo-mediumjpg

Business Unusual - Recap 2019

23 October 2019 7:15 PM

There have been over 150 episodes of Business Unusual. Many cover subjects that are still developing stories, here are some updates on those past episodes.

Share this:
Read More arrow_forward

dagga.jpg

Online platform 'Kush Kush' caters to women who use cannabis products

23 October 2019 5:02 PM

What is CBD? How do you roll a joint? The platform is dedicated to women who consume cannabis and are curious to learn more.

Share this:
Read More arrow_forward

Cape Town V&A Waterfront

How a derelict harbour became the V&A Waterfront, SA’s most valuable real estate

23 October 2019 3:49 PM

Thirty years ago, it was stinky and derelict. Today, it employs 23 000 people and ranks among Africa’s most visited places.

Share this:
Read More arrow_forward

191022-boris-johnsonjpg

UK could head to early elections if parliament delays Johnson's Brexit plans

23 October 2019 2:09 PM

EWN UK correspondent Gavin Grey explains what will happen now that the British MPs rejected the prime minister's timetable.

Share this:
Read More arrow_forward

Checkers supermarket

Checkers is steadily moving upmarket. And it’s working

23 October 2019 12:30 PM

Checkers is getting "better and better", says branding and advertising expert Andy Rice.

Share this:
Read More arrow_forward

arabile-ghanajpg

'AfCFTA set to bolster Ghana economy'

23 October 2019 12:27 PM

Business reporter Arabile Gumede says businesses in Ghana are poised to take full advantage of the African Continental Free Trade Agreement.

Share this:
Read More arrow_forward

arabile-ghana-2jpg

'Informal economy can help take Ghana into double-digit growth'

23 October 2019 11:28 AM

EWN business reporter Arabile Gumede shares how Ghanaian business is evolving along with the 4th industrial revolution.

Share this:
Read More arrow_forward

Pick n Pay

Pick n Pay to open 63 new stores as profits in South Africa soar

23 October 2019 11:14 AM

There’s still plenty of opportunities to expand within South Africa, says Pick n Pay CEO Richard Brasher.

Share this:
Read More arrow_forward

South African Airways SAA

'6 groundings in 2.5 years suggest overreaction or maintenance is falling apart'

23 October 2019 9:06 AM

Is there dodgy maintenance? The Money Show's Bruce Whitfield interviews Guy Leitch (Managing Editor at SA Flyer Magazine).

Share this:
Read More arrow_forward

180206bonteheuwelstationjpg

When does a township become a suburb? Bonteheuwel's drive to change perceptions

23 October 2019 7:43 AM

Bonteheuwel Ward Councillor Angus McKenzie is fighting to have the Cape Flats area perceived as a suburb that drives investment.

Share this:
Read More arrow_forward

More from Politics

191020mmusi

[WATCH] Maimane resigns as DA leader, Trollip follows

23 October 2019 6:22 PM

DA leader Mmusi Maimane has thrown in the towel. He announced his resignation at a media briefing on Wednesday afternoon.

Share this:
Read More arrow_forward

mmusi-maimane-resignsjpegjpg

READ: Mmusi Maimane’s resignation address

23 October 2019 6:03 PM

Mmusi Maimane resigned as the leader of the Democratic Alliance (DA) on Wednesday.

Share this:
Read More arrow_forward

191023-mmusi-maimane-edjpg

Mmusi Maimane resigns as DA leader, Athol Trollip confirms party exit

23 October 2019 5:23 PM

Maimane’s resignation comes two days after Herman Mashaba announced his resignation from the party and subsequently as Johannesburg mayor.

Share this:
Read More arrow_forward

191020mmusi

Is DA leader Mmusi Maimane about to quit?

23 October 2019 1:24 PM

“He might have calculated there’s no way out,” says Dr Somadoda Fikeni, a political analyst at Unisa.

Share this:
Read More arrow_forward

180206bonteheuwelstationjpg

When does a township become a suburb? Bonteheuwel's drive to change perceptions

23 October 2019 7:43 AM

Bonteheuwel Ward Councillor Angus McKenzie is fighting to have the Cape Flats area perceived as a suburb that drives investment.

Share this:
Read More arrow_forward

Herman Mashaba

DA to decide if Herman Mashaba will serve his notice period or get cut loose

22 October 2019 4:55 PM

It's reported that some senior members of the Democratic Alliance want Mashaba's membership terminated with immediate effect.

Share this:
Read More arrow_forward

Eskompresser_0632

Should Pravin Gordhan get more power?

22 October 2019 3:29 PM

The Department of Public Enterprises wants more power to oversee SOEs. Bruce Whitfield interviews Investec’s Nazmeera Moola.

Share this:
Read More arrow_forward

Mkhuleko Hlengwa

'Ministers snubbing Scopa meeting on Eskom debt undermine Parliament'

22 October 2019 1:29 PM

Chairperson Mkhuleko Hlengwa says it is unacceptable for officials not to attend this engagement.

Share this:
Read More arrow_forward

191021balekajpg

'Mbete faced difficult questions. She has done a lot in terms of responding'

22 October 2019 11:00 AM

Xolani Xala (SA Business Abroad) defends his defence of ANC stalwart Baleka Mbete’s "car crash" interview on Al Jazeera.

Share this:
Read More arrow_forward

screengrab-from-video-courtesy-eliane-jabbourpng

[WATCH] Lebanese protestors sing 'Baby Shark' to comfort frightened baby

22 October 2019 10:14 AM

It was a lighter moment after protests began last week against proposed new taxes and in favour of land reforms.

Share this:
Read More arrow_forward