Important signals

Recent interventions by Finance Minister Enoch Godongwana and the National Treasury have helped shed light on issues that had hitherto been allowed to fester in dark corners. The most high-profile intervention has undoubtedly been the one at the Public Investment Corporation (PIC), where recent governance shortcomings, investment failures and unauthorised restructuring were risking the stability of an institution responsible for managing public-sector pension and social funds. It is estimated that the PIC has assets under management of R3.6-trillion, making good governance beyond essential and public scrutiny inevitable.

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