Masondo resigns as PIC chair, warns investigations must not be ‘swept under the carpet’

Public Investment Corporation (PIC) chairperson David Masondo has resigned, becoming the latest senior casualty of the governance crisis engulfing South Africa's largest asset manager, while warning that key investigations into the corporation must not be "swept under the carpet". His resignation follows weeks of turmoil at the PIC, including the precautionary suspension of chief executive Patrick Dlamini and the resignation of six non-executive directors.