Holomisa pens another explosive letter to President about “missing R100m” at PIC


Staff Reporter

The deeper you scratch, the more you find out… Dr Matjila, please tell us, broer, who got the missing R100m in deal

“The deeper you scratch, the more you find out… Dr Matjila, please tell us, broer, who got the missing R100m in deal,” are the words of United Democratic Movement (UDM) leader Bantu Holomisa in a tweet challenging Public Investment Corporation (PIC) leader Dr Dan Matjila to answer to alleged corruption allegations.


Last month Holomisa penned an explosive letter to the president in which he demanded a probe into dealings at the PIC. Since then, Lebashe Investment Holdings, the Black Economic Empowerment partner of EOH has threatened legal action over that “malicious” letter.

That did not stop Holomisa, who in the latest development appears to have “dug deeper” and found more troublesome and questionable dealings at the PIC. In the letter Holomisa claims to highlight missing moneys to the tune of R100m and even claims to attach the bank account details of where the money was paid.

Holomisa alleges that the questions relate to a Kilimanjaro Sakhumnotho Consortium transaction to the tune of R1,7bn, which was approved by the board of the PIC in 2015. In the letter, Holomisa alleges that Matjila may have approved an additional spending of R100m that appears to be unaccounted for. The letter suggests that Matjila should account for the additional R100m spend by producing board meeting minutes or an addendum to the contract that explains the “change in the amount”.

“It could therefor mean that Dr Dan Matjila had approved the alleged additional spend of R100 million. Dr Matjila should either produce the minutes of the board meeting at which the decision had been made to increase the amount or he should provide an addendum to the contract between the PIC and the consortium that explains the change in the amount.”

An alleged conversation between Matjila and Lawrence Mulaudzi about the deal is included in the letter where Matjila asks about what information was given to a journalist. Mulaudzi explains about transactional payments and “topping up”.

Holomisa further raises concerns around a deal in which financial support was given to Kefolile Health Investments for the subscription of shares in Ascendis Health Limited and Bounty Brands. Holomisa says the funds for this came from the Isibaya fund and was approved by Matjila. The UDM leader alleges that the common roleplayer in both the transactions is Mulaudzi.

Holomisa says a shareholder called Black Gold Family Trust is part of Shira Holdings, which according to City Press is headed by Mulaudzi. Holomisa alleges that Black Gold is a shareholder in Kefolile.

Beyond the above, Holomisa alleges that a front called “Ross Randall”  – a transactional consultant – has signed documents seen by Holomisa and is, according to allegations by the UDM leader, nothing more than a front for Mulaudzi. Holomisa claims to attach bank details showing the channeling of these funds into an account of “lynchpin” Mulaudzi.

Read the explosive letter below: