WATCH: PIC inquiry takes its final lap

The Commission of inquiry into the Public Investment Corporation is set to conclude its work this week.

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JOHANNESBURG - The Commission of inquiry into the Public Investment Corporation is set to conclude its work this week.

The PIC's executive head of impact investing, Royith Rajdhar gave his testimony at the commission on Monday.

He says IndiaFrec, the company owned by Amir Mizra and Siyabonga Nene, the son of PIC chairman Nhlanhla Nene, approached the PIC for funding, but they were unsuccessful because the PIC’s BEE policy at that point did not apply to investments outside South Africa.

Last week,  UDM Leader Bantu Holomisa testified and asked the president to extend its deadline.

READ: PIC employee testifies at inquiry

Holomisa, who’s been at the forefront of exposing corruption at the PIC, says more work still needs to be done.

It’s not yet known if former PIC CEO Dan Matjila will also take the stand.

READ: Ex-PIC employees debarred from financial sector

Some witnesses have told the inquiry of how Matjila was hell-bent on signing off deals.

PIC witnesses are only revealed when they take the stand.

They’ve all been placed under witness protection as a security measure.

Source
eNCA