Four more PIC directors are said to have quit after Godongwana threatened to dissolve the board, deepening the crisis at Africa’s largest asset manager

The PIC-backed R2.26bn buyout of Balwin Properties was overdue. Its long-cycle model was never well matched to public-market expectations

How poor due diligence, a split mandate and a ‘rehabilitation mindset’ have left the PIC trapped in billions of rands of failed investments