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Report: Probe into CEO of Africa's biggest asset manager begins

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Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Report: Probe into CEO of Africa's biggest asset manager begins

An investigation into Public Investment Corp. (SOC) Ltd. CEO Dan Matjila over corruption allegations has begun, with lawyers seeking information from staff, Business Day reported.

Matjila is accused of using funds of Africa's biggest asset manager to support the business of a woman who allegedly had a romantic relationship with him, according to the report.

In July, South African Finance Minister Nhlanhla Nene ordered an independent probe into the PIC's affairs after an internal investigation in 2017 cleared Matjila of any wrongdoing.