Former chief executive of the Public Investment Corporation (PIC), Dan Matjila, will on Monday face the commission of inquiry to defend himself from accusations leveled against him while he was at the helm of of Africa' biggest fund manager.

Several witnesses have implicated Matjila as having played a central role in approving questionable investment deals by the PIC, which manages about R2.2-trillion of government employees pension funds. 

When he resigned in November 2018, Matjila was the subject of an internal investigation into allegations that business and kickbacks were inappropriately ring-fenced around some of his associates.

Matjila is expected to respond to accusations on deals including the PIC's investment in Erin Energy, and the acquisition of a stake in Total SA by Tosaco Energy. 

Other transactions that will be in the spotlight include the funding of S&S Refinery in Mozambique, Steinhoff International Holdings, VBS Mutual Bank and Ayo Technology Solutions, among others.

Matjila is also expected to reveal his opposition last year to funding the rescue of clothing retailer Edcon ahead of national elections.

According to Bloomberg, in his prepared statement Matjila alleges that he was removed from his job so that politically connected people could influence the fund's investment decisions, and that he was pressured to make deals that didn't fit with the PIC's strategies, 

The PIC inquiry, led by retired Judge Lex Mpati, was appointed by President Cyril Ramaphosa in October last year to probe whether there was any alleged impropriety and corrupt activities, among others, regarding investment decisions by the PIC.

The inquiry, which is expected to wrap up this month, has heard evidence from about 70 witnesses, some of whom are former and current PIC directors.