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Public Investment CorporationIn the news

Masondo resigns as PIC chair as Godongwana prepares sweeping board overhaul

Public Investment Corporation (PIC) chairperson David Masondo has resigned as Finance Minister Enoch Godongwana prepares a sweeping overhaul of the board of Africa's largest…

Businessman Kagiso Matjila has threatened the PIC, the Government Employees Pension Fund and PIC chief executive Patrick Dlamini with a R1 billion damages claim in an escalation of the battle over the Lanseria International Airport dispute.

Editorial: Political interference will hurt PIC

The Public Investment Corporation (PIC) is facing its most serious governance crisis, with the suspension of its chief executive, board resignations, and allegations of political…

Deputy Finance Minister David Masondo. (X)

Masondo resigns as PIC chair, warns investigations must not be ‘swept under the carpet’

Public Investment Corporation (PIC) chairperson David Masondo has resigned, becoming the latest senior casualty of the governance crisis engulfing South Africa's largest asset…

Finance Minister Enoch Godongwana.

PIC crisis escalates as whistleblower accuses Godongwana of board interference

A whistleblower has escalated the governance crisis at the Public Investment Corporation (PIC) to Parliament, alleging that Finance Minister Enoch Godongwana attempted to…

David Masondo, Deputy Finance Minister. (Photo by Gallo Images/Die Burger/Jaco Marais)

Exclusive: Two PIC directors resign days after CEO’s suspension

Two Public Investment Corporation (PIC) directors have resigned less than 48 hours after the board voted by an overwhelming majority to place chief executive Patrick Dlamini on…

PIC appoints Batandwa Damoyi as acting CEO as board resignations deepen turmoil

The Public Investment Corporation (PIC) has appointed chief financial officer Batandwa Damoyi as acting chief executive with immediate effect following the precautionary…

BREAKING: PIC CEO Patrick Dlamini placed on precautionary suspension

Public Investment Corporation (PIC) chief executive Patrick Dlamini has been placed on precautionary suspension by the corporation’s board. This decision follows weeks of…

Beyond the build: Green jobs in SA’s renewables industry

South Africa's green economy promises millions of jobs by 2050, driven by renewable energy projects. However, an investigation reveals that while construction phases generate…

Dispute: Kagiso Matjila claims that Patrick Dlamini acted outside the scope of his authority when he appointed PricewaterhouseCoopers (PwC) to investigate the Lanseria matter.

Matjila launches R900m damages claim against PIC chief over Lanseria probe

Businessman Kagiso Matjila has launched a R900 million damages claim against Public Investment Corporation (PIC) chief executive Patrick Dlamini, accusing him of unlawfully…

EXCLUSIVE: PwC findings behind the PIC’s Lanseria fight

A confidential draft PwC forensic report obtained by the Mail & Guardian has raised questions about the calculation used to settle the long-running Lanseria Airport dispute,…

Businessman Kagiso Matjila has threatened the PIC, the Government Employees Pension Fund and PIC chief executive Patrick Dlamini with a R1 billion damages claim in an escalation of the battle over the Lanseria International Airport dispute.

Why a settled Lanseria dispute still haunts the PIC

What began as an arbitration over Lanseria Airport has escalated into a major governance crisis for the Public Investment Corporation (PIC), involving a whistleblower complaint…

How Lanseria became the fault line in the PIC power struggle

The Public Investment Corporation (PIC) is embroiled in a significant governance crisis, stemming not from a recent whistleblower complaint, but from a long-standing dispute over…

Finance Minister Enoch Godongwana.

Godongwana steps in as PIC probe gathers pace

The Public Investment Corporation (PIC) board has formally assumed oversight of a whistleblower complaint against chief executive Patrick Dlamini following a special meeting with…

Lanseria dispute at heart of PIC board probe

A whistleblower complaint before the Public Investment Corporation (PIC) board highlights governance issues, alleged conflicts of interest, and the authority behind a forensic…