A South African court on Tuesday declared invalid the suspension of Public Investment Corporation (PIC) CE Patrick Dlamini by the board, ordering his reinstatement at the helm of the embattled state asset manager. The PIC manages more than R3-trillion ($183-billion) in assets and is the biggest investor on the Johannesburg Stock Exchange.

The Public Investment Corporation (PIC) has found itself at the centre of renewed debate over governance, accountability and political influence following board resignations and…

Ruling restores PIC chief as court faults board over unlawful suspension process