The Public Investment Corporation (PIC) is suffering from a severe governance crisis driven by ongoing internal power struggles despite despite key recommendations from the Mpati Commission of Inquiry.
As internal power struggles continue to threaten the state asset manager, the Public Investment Corporation (PIC is experiencing a worsening governance crisis.
This is according to the Association for the Monitoring and Advocacy of Government Pensions (AMAGP), which said the PIC has been in the news for many years for the wrong reasons, despite key recommendations from the Mpati Commission of Inquiry.
The advocacy group said this is because two key recommendations with political ramifications have not been implemented.
This follows news that the PIC board placed CEO Patrick Dlamini on precautionary suspension amid whistleblower allegations of corruption, mismanagement, and executive overreach.
