A South African court declared invalid on Tuesday the suspension of Public Investment Corporation (PIC) chief executive Patrick Dlamini by its board of directors, ordering his reinstatement to the leadership of the troubled state asset manager.
The PIC manages more than US$183 billion in assets and is the largest single investor on the Johannesburg Stock Exchange.
The board suspended Dlamini last month following a complaint lodged by a whistleblower, though it stated at the time that the precautionary suspension did not constitute a finding of guilt.
The High Court found that the board of directors had failed to follow due process when suspending Dlamini, according to a copy of the court ruling.
Last week, the South African government approved the appointment of a new PIC board chairperson and seven non-executive directors, in an effort to restore stability and investor confidence.
South Africa’s financial regulator has launched an investigation into the Public Investment Corporation, which has faced governance challenges for more than a decade.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/05/mundo/africa/africa-do-sul-justica-reintegra-presidente-executivo-da-maior-gestora-estatal-de-activos/
