Masondo resigns as PIC chair as Godongwana prepares sweeping board overhaul

Public Investment Corporation (PIC) chairperson David Masondo has resigned as Finance Minister Enoch Godongwana prepares a sweeping overhaul of the board of Africa's largest asset manager. Deputy Trade, Industry and Competition Minister Zuko Godlimpi has emerged as the preferred candidate to replace Masondo as chairperson, though the appointment is not yet finalised.