Big changes for R3 trillion state fund manager in South Africa

• The South African government appointed Seiso Mohai as the new chairman of the Public Investment Corporation, replacing David Masondo.
• The change comes after years of governance scandals and recent management turbulence, including the suspension of Chief Executive Officer Patrick Dlamini over governance concerns.
• The new leadership will aim to restore stability at the R3.6 trillion fund, which manages civil servants' pensions and has significant minority stakes in major South African companies.