SA Home Loans CEO Kevin Penwarden has taken to the stand at the Public Investment Corporation inquiry on Wednesday.
On Tuesday, the commission heard that former PIC CEO Dan Matjila allegedly pumped billions into west Africa-based EcoBank.
A rating agency called the move ‘highly speculative’, that’s according to the bank’s former executive, Altu Sadie who appeared before the commission.
Sadie was fired in 2017 for picking up irregularities in the bank’s books.
He also claims Ecobank manipulated profits.
#PICInquiry
The inquiry resumes today at 10am with SA Home Loans CEO Kevin Penwarden taking the stand.
This is the deal where Kholofelo Maponya is demanding millions in transaction fees from SAHL/PIC
SAHL has refused to pay Maponya. Maponya owns 25% of SAHL #eNCA— Heidi Giokos (@HeidiGiokos) May 29, 2019
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Source: eNCA
