Governance crisis at PIC: Internal power struggles threaten state asset management

The Public Investment Corporation (PIC) is suffering from a severe governance crisis due to internal power struggles, despite the recommendations of the 2020 Mpati Commission of Inquiry. CEO Patrick Dlamini has been placed on precautionary suspension following whistleblower allegations of corruption and mismanagement. The Association for the Monitoring and Advocacy of Government Pensions (AMAGP) states that two key recommendations with political ramifications remain unimplemented, threatening state asset management.