South Africa's Public Investment Corp., the $220 billion manager of civil servants' pensions and a major shareholder in many of the country's biggest companies, has lurched from one crisis to another. Its chief executive was suspended before a court ordered his reinstatement, while the chairman — who also served as deputy finance minister — resigned amid the fallout.
On this week's Next Africa podcast, South Africa Bureau Chief Alexander Parker joins Jennifer Zabasajja to explain the turmoil at the PIC, trace how one of Africa's most influential investors became mired in repeated governance crises, and assess whether long-delayed reforms recommended by a judicial inquiry will be implemented.
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