The cabinet announced on Thursday that deputy finance minister David Masondo would chair the new board of the Public Investment Corporation (PIC), a move that is likely to spark concerns of political interference at SA’s biggest asset manager.

The PIC, which manages about R2-trillion, mostly for government employees and pensioners, has been struggling to restore its reputation following years of questionable investment decisions amid allegations of impropriety and that investments were influenced by political connections and considerations...

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