Commission of Inquiry into Allegations of Impropriety regarding the Public Investment Corporation
Estimated cost to taxpayer
R50 000 000
Duration
1 year 1 month
Sitting days
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Cost per sitting day
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Cost figures are sourced from parliamentary questions and auditor-general reports. Some figures are estimates.
The PIC is a huge fund that manages the pension money of government workers — over R2 trillion. Its CEO Dan Matjila was accused of making bad investments and using the fund to benefit people he knew. This commission investigated what happened to ordinary workers' pension money.
28 Nov 2019
Created under
Constitution Section 84(2)(f)
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No formal recommendations have been captured for PIC Commission yet.
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Outcome
Report released · 28 November 2019
Found Matjila had made improper investments and misused his position. Recommended his removal and structural reforms at the PIC. Matjila resigned before the report was released.
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