Episode Details

David Masondo, chair of South Africa’s Public Investment Corporation and Deputy Minister of Finance, has resigned amid mounting pressure — just days before a shareholder meeting where he and other non-executive directors were slated for removal. Masondo, who insists his exit is in the nation’s best interest and for the PIC’s stability, defended his tenure as marked by integrity and a steadfast commitment to protecting the retirement savings of millions and fueling economic growth. He credited the board with advancing governance reforms, including implementing Mpati Commission recommendations and strengthening controls, while calling for impartial judicial processes to handle ongoing whistleblower cases and CEO allegations. Masondo remains confident in the PIC’s future, urging the incoming board to continue reforms and safeguard public trust as South Africa navigates its financial challenges.

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