piclatest news & developments
PIC Patrick Dlamini. Public Investment Corporation; Currency

Dlamini can go back to work, as judge flays PIC’s ex-board

The high court has ruled Patrick Dlamini’s suspension unlawful, clearing the way for his return as PIC CEO after weeks of political turmoil

Seiso Mohai. ChatGPT; Supplied; Currency

New PIC chair under scrutiny over wife’s R18m housing deal

New PIC chair Seiso Mohai faces DA questions over his wife’s firm and its Free State government payments under Ace Magashule

Patrick Dlamini. PIC. Lanseria. Supplied/Public Investment Corporation; lanseria.co.za; Rawpixel; FM

The new PIC board: another ANC chair

Seiso Mohai is named PIC chair after a political fallout unseated the previous board, reviving pressure to depoliticise its leadership

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PODCAST: ‘Sharp Sharp’ – ANC for sale

This week: paid political influence, Ramaphosa’s reform setbacks, the PIC leadership vacuum and looming FATF greylisting concerns

PIC imploding. Rawpixel/Currency

Dlamini hits out at ‘bad faith’ PIC whistleblowers

As the PIC grapples with a governance vacuum, the CEO says his suspension was based on anonymous speculation, not evidence

PIC magnifying glass

How to build a PIC dream board

There is a deep pool of South African talent that finance minister Enoch Godongwana should look to when he forms the new PIC board

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PODCAST: ‘ListenUP’ – should the PIC be closed down?

Is the PIC still fit for purpose? Or should South Africa replace its R3-trillion state asset manager with private expertise?

PIC public investment corporation. ChatGPT Currency

High drama as suspended PIC boss goes to court

Patrick Dlamini goes to court over his suspension as the PIC board collapses, deepening the governance crisis at the asset manager

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PODCAST: ‘Sharp Sharp’ – PIC cleared for crash-landing

The PIC’s latest crisis, Ramaphosa’s credibility, El Niño risks and Air Zimbabwe’s London return – as told by Rob Rose and Zukile Majova

David Masondo(Gallo Images/Brenton Geach), Enoch Godongwana (Ashraf Hendricks/GroundUp), Rawpixel/Currency

PIC crisis deepens as four more directors quit

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

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PODCAST: ‘ListenUP!’ – the meaning of sport

Soccer, tennis, rugby … it’s all in this week’s episode of ‘ListenUP’. Also: the shenanigans at the PIC

David Masondo(Gallo Images/Brenton Geach), Enoch Godongwana (Ashraf Hendricks/GroundUp), Rawpixel/Currency

Inside the PIC’s meltdown

PIC CEO Patrick Dlamini’s suspension has reignited questions over governance, politics and accountability at the R3.6-trillion asset manager

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PODCAST: ‘Sharp Sharp’ – pity the voter

South Africa’s diplomatic decay, the PIC scandal, Julius Malema and election politics take centre stage in the first video episode of ‘Sharp Sharp’

PIC rumour gossip. Rawpixel/Currency

PIC governance fight spills into the gossip economy

While rumours swirl around a PIC director, tough questions remain about governance, oversight and the Lanseria saga

PIC Isibaya ambulance. Rawpixel/Currency

How the PIC melted workers’ pensions

The PIC’s Isibaya Fund returned just 4.25% for the GEPF over 20 years, which inflation more than wiped out

Balwin complex. balwin.co.za

Balwin’s buyout: the right move, long overdue

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

PIC bad eggs. Rawpixel/Currency collage

Inside the PIC’s bad batch of investments

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

David Masondo. Photo by Gallo Images/Luba Lesolle

Protecting black pensions is not ‘anti-black’

There are those who speak the language of empowerment while pursuing private enrichment at the expense of the working class, writes David Masondo

Barloworld/excavator: Zoonar / Getty Images Plus / Currency collage

Barloworld’s CompCom boost  

The Competition Commission has approved Barloworld’s controversial takeover in rapid time, but this deal’s not done yet

Ayo leaves the JSE

Ayo: a pathetic end to a shameful beginning

Ayo’s delisting, like its debut, is again cloaked in controversy