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Update 1-anc Infighting Has Hurt S.african State Asset Manager - Former Ceo

by reuters.com posted 1week ago 13 views
* Politically connected people tried to tap into PIC - ex-CEO (Adds appointment of interim board): JOHANNESBURG, July 10 (Reuters) - Turmoil in the ruling African National Congress has destabilised South Africa’s state asset manager as rival factions jostle for influence over the multi-billion dollar fund, its former chief executive said on Wednesday. Dan Matjila, who resigned as CEO of the Public Investment Corporation (PIC) last year, told a judicial inquiry into alleged wrongdoing at the money manager that politically connected people had tried to tap into the more than 2 trillion rand ($141 billion) of funds that it oversees.

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