The Public Investment Corp (PIC) should decide for itself whether it is fish or fowl — whether it complies with the governance standards of transparency and accountability it requires of others or not. Its annual report for the year to the end of March 2017 is due for release. Look to it for the answer. There were critical nondisclosures in the 2016 report. They related particularly to: • The identities of the external asset managers who were engaged and the sizes of their respective allocations; and • The identities of the recipients of loans or investments made by the Isibaya developmental investment fund division, the sizes of these loans or investments and their respective performances. What is PIC policy on making such disclosures? "There will be enough disclosure in the annual report of our investments," says spokesman Sekgoela Sekgoela. Well, in the 2016 annual report there wasn’t enough. In fact, there wasn’t even a hint of the identities of the external asset managers or of...

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