Can Africa’s Largest Fund Save Face?

The image of Africa’s biggest fund manager has been damaged by allegations of misconduct and breaches of corporate governance and the institution must now strive to preserve what’s left of its reputation, its interim chairman Reuel Khoza said. The Public Investment Corporation, which oversees $139 billion of mainly South African government worker pensions, has been the subject of a commission of inquiry. That’s involved months of public testimony into allegations of political interference and questionable investment decisions. The board is an interim one as the commission is scheduled to make recommendations on how the money manager is run by the end of this month.


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