KEY INSTITUTIONS
AYABONGA CAWE: Why client profile should contribute to PIC board’s make-up
If there is anything the "state-capture project" has bequeathed us — unintentionally, of course — it is the reopening of age-old debates about the configuration of key institutions and sites of power in society. One such site of power is the Public Investment Corporation (PIC), Africa’s largest asset manager. No better proof exists of the scare-mongering that characterises our public debates than the alarm with which the suggestion of workers’ representation on the PIC board was greeted by the media and business community. Of course, this suggestion comes in the midst of fears that the PIC’s coffers will be raided by the midnight marauders from Saxonwold and their acolytes in the political sphere. The subject of this article is not the merits of the suggestion, but the debate that labour’s suggestion stimulated.Two related questions are worth asking. First, what would be wrong with having workers’ representation on the PIC board? Second, and related to the first question, what effec...
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