The Chief Executive (CEO) of South Africa’s (SA) Public Investment Corporation (PIC), Patrick Dlamini, has been placed on precautionary suspension.
This was confirmed by a statement issued by the Board of the PIC yesterday evening.
The Board says it believed it was necessary to provide Dlamini with the time and space to respond to allegations of impropriety levelled against him by a whistleblower report last month.
The PIC is the largest asset manager in SA manages just over $183 billion dollars in government employee pension funds, investing in major listed entities on the Johannesburg Stock Exchange.
–Channel Africa–
