The composition of the Public Investment Corporation (PIC) board announced by the government last week had all the hallmarks of a classic Cyril Ramaphosa negotiated settlement.

In stark contrast to the PIC amendment bill which sits unsigned on the president’s desk, the new chair of the PIC will most definitely not be the deputy minister of finance, in contrast to past established practice which the bill has attempted to formalise, despite the inherent conflict of interest...

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