David Masondo
Coverage of David Masondo in the Nexus archive.
- South African court reinstates state pension fund chief
A South African court ordered the reinstatement of Patrick Dlamini as head of the Public Investment Corporation, overturning a board suspension that caused governance chaos. The court ruled the previous board acted unlawfully by suspending Dlamini without government approval, leading to a rift between Finance Minister Enoch Godongwana and former board chair David Masondo, who resigned. A new board, including Seiso Mohai and Swazi Tshabalala, now oversees the fund amid an ongoing investigation into its governance and $6 billion unlisted portfolio.
- South Africa’s US$200B Pension Fund PIC Names Mohai Board Chair
South Africa’s Public Investment Corporation (PIC), which manages over R3.6 trillion ($200 billion) in public pension assets, has appointed Deputy Minister Seiso Mohai as its new board chair, replacing David Masondo. The appointment follows a crisis involving six board members resigning after a whistleblower complaint and the suspension of the CEO. The Financial Sector Conduct Authority (FSCA) has launched a formal investigation.
- Africa's biggest fund manager is caught up in an escalating crisis
South Africa’s finance minister is preparing to dissolve the board of the Public Investment Corporation (PIC) and remove his deputy, following a governance crisis triggered by the suspension of PIC’s CEO Patrick Dlamini over a flawed $24 million private equity deal. The situation has sparked internal conflict, board resignations, and a political debate over interference in the state-owned fund.