South Africa's Public Investment Corp., the $220 billion manager of civil servants' pensions and a major shareholder in many of the country's biggest companies, has lurched from one crisis to another. Its chief executive was suspended before a court ordered his reinstatement, while the chairman — who also served as deputy finance minister — resigned amid the fallout.

On this week's Next Africa podcast, South Africa Bureau Chief Alexander Parker joins Jennifer Zabasajja to explain the turmoil at the PIC, trace how one of Africa's most influential investors became mired in repeated governance crises, and assess whether long-delayed reforms recommended by a judicial inquiry will be implemented.

For more stories from the region, subscribe to the Next Africa newsletter

 

South Africa's Public Investment Corp., the $220 billion manager of civil servants' pensions and a major shareholder in many of the country's biggest companies, has lurched from one crisis to another. Its chief executive was suspended before a court ordered his reinstatement, while the chairman &mdash; who also served as deputy finance minister &mdash; resigned amid the fallout.
On this week's Next Africa podcast, South Africa Bureau Chief Alexander Parker joins Jennifer Zabasajja to explain the <a href="https://www.bloomberg.com/news/articles/2026-08-04/south-african-court-orders-ceo-s-return-at-220-billion-fund">turmoil at the PIC</a>, trace how one of Africa's most influential investors became mired in repeated governance crises, and assess whether long-delayed reforms recommended by a judicial inquiry will be implemented.
For more stories from the region, subscribe to the <a href="https://www.bloomberg.com/account/newsletters/next-africa">Next Africa newsletter</a>
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Next Africa is a weekly podcast about where Africa is going and why it matters to everyone.

Each episode tells a story from the continent and follows it through real life, business, politics and culture. From electricity and climate to jobs, migration, technology, sport and music, the podcast looks at the forces shaping daily life and how those changes connect to the wider world.

The show covers challenges and breakthroughs side by side. It explains the impact of energy shortages and climate risk, but also the rise of new industries, creative economies and young entrepreneurs. Stories are reported on the ground and told with clarity, combining data, context and lived experience.

Hosted by Jennifer Zabasajja and built on original journalism from reporters on the ground, Next Africa puts local voices at the centre of the story, delivering clear, factual reporting without cliché or assumption.

Whether you live on the continent or want to better understand a region shaping the future, Next Africa offers insight, perspective and stories worth listening to.

Next Africa is a weekly podcast about where Africa is going and why it matters to everyone.
Each episode tells a story from the continent and follows it through real life, business, politics and culture. From electricity and climate to jobs, migration, technology, sport and music, the podcast looks at the forces shaping daily life and how those changes connect to the wider world.
The show covers challenges and breakthroughs side by side. It explains the impact of energy shortages and climate risk, but also the rise of new industries, creative economies and young entrepreneurs. Stories are reported on the ground and told with clarity, combining data, context and lived experience.
Hosted by Jennifer Zabasajja and built on original journalism from reporters on the ground, Next Africa puts local voices at the centre of the story, delivering clear, factual reporting without clich&eacute; or assumption.
Whether you live on the continent or want to better understand a region shaping the future, Next Africa offers insight, perspective and stories worth listening to.

Inside the stories shaping the world’s fastest-growing continent.

Next Africa

Why South Africa's $220 Billion Pension Fund Manager Is in Crisis

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