R7.3 billion
Total financial exposure
Resigned as PIC CEO March 2019 amid mounting scandal. Subject of SIU civil recovery proceedings and NPA criminal referrals (Mpati Commission recommendation). No criminal charges filed as of early 2026.
PIC CEO (2014-2019) who directed R7.3 billion+ in government pension fund investments to entities linked to businessman Iqbal Surve. The Mpati Commission found he bypassed the Investment Committee, had undeclared conflicts of interest, and approved the R4.3B Ayo Technology investment at 5-14 times fair value. Recommended for criminal investigation. No charges filed to date — 1.7 million government pensioners still await justice.
Pain points connected to Daniel (Dan) Matjila's documented incidents
Chief Executive Officer
Public Investment Corporation (PIC)
2014-01 – 2019-03(appointed)
Chief Investment Officer
Public Investment Corporation (PIC)
2010-01 – 2014-01(appointed)
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Close personal and business relationship that the Mpati Commission found influenced PIC investment decisions. Matjila directed R7.3B+ in investments to Surve-linked entities.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.
Relationship with PIC CEO enabled R7.3B+ in investments to Surve-linked entities at inflated valuations.