South Africa’s largest asset manager under siege

• The Public Investment Corporation, South Africa's largest asset manager, is under siege due to a series of suspensions and resignations, leaving it without a chair, board, or CEO.
• The corporation is planning to appoint private contractors to help change its culture, following an internal survey that identified the need for human resources interventions over a five-year period.
• The PIC's governance issues have been ongoing for over a decade, with a 2020 judicial commission of inquiry finding widespread issues and making recommendations that have yet to be implemented.