Another twist at South Africa’s R3.6 trillion asset manager

• Patrick Dlamini has been reinstated as CEO of the Public Investment Corp. after a court ruled his suspension was unlawful.
• The suspension was pending an investigation into governance and procurement processes at the R3.6 trillion fund manager, exposing a rift between Deputy Finance Minister David Masondo and Finance Minister Enoch Godongwana.
• The reinstatement of Dlamini has been welcomed by Finance Minister Enoch Godongwana, who stated that the actions taken to restore governance at the asset management institution were vindicated by the court's ruling.