Riyaz Patel
The commission of inquiry into the Public Investment Corporation (PIC) has concluded its hearings into alleged impropriety at the state asset manager, and will now prepare its final report for submission to President Cyril Ramaphosa on October 31.
Commission chair Justice Lex Mpati said, however, that because more questionable transactions had come to light over the past eight months, investigations would be ongoing.
He indicated that public hearings may be held again if needed.
The commission heard from its last witness on Tuesday, after eight months of testimony. Businessman Jayendra Naidoo, who co-founded Lancaster group provided evidence on his companies partnership with the PIC in the investment into Steinhoff.
Over the course of the inquiry, it has heard from 77 witnesses, including axed PIC head Dan Matjila.
“Today marks the final day of public hearings. Now our task is to review, assess, and make findings, propose recommendations and prepare final reports,” Mpati said.
Mpati called for anyone with evidence, or who has been mentioned in evidence and who wants to place their evidence on record, to do so by submitting a sworn affidavit.
Between now and September 30, evidence leader, Advocate Jannie Lubbe, will be the point of contact to the commission, he said.
The commission was appointed by President Ramaphosa in 2018 to investigate allegations of irregularities at the corporation which manages over R2trn in state funds.
The inquiry was also tasked with determining whether any legislation or PIC policies concerning the reporting of alleged corrupt activities and the protection of whistleblowers were complied with in respect to alleged impropriety.
Ramaphosa has extended the commission’s term twice. First from April 15, to July 31 and then again to October 31.
