Governance crisis deepens at the PIC as more board members exit

A governance crisis at the Public Investment Corporation (PIC) led to the resignation of board chairperson and Deputy Finance Minister David Masondo, alongside a mass exodus of non-executive directors.

The turmoil follows the suspension of CEO Patrick Dlamini, a clash with Finance Minister Enoch Godongwana, and an investigation by the Financial Sector Conduct Authority (FSCA).

SABC News Economics Editor Tshepo Mongoai unpacks the crisis at Africa’s biggest asset manager.

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