PIC Resignation | My decision is in the interest of the country: David Masondo

Deputy Minister of Finance, David Masondo, has resigned as Chairperson of the board of the Public Investment Corporation.

Masondo's resignation follows governance turmoil at Africa's largest asset manager, and just days ahead of a scheduled shareholder meeting where Finance Minister Enoch Godongwana was set to vote on removing the non-executive board.

In a statement, Masondo maintained that he acted with integrity to safeguard public servant savings.

Masondo's announcement comes amid weeks of intense strain at the state-owned fund following the precautionary suspension of CEO Patrick Dlamini and the subsequent resignations of six other non-executive board members.

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