PIC governance crisis after Masondo resignation
The resignation of Deputy Finance Minister David Masondo as PIC chairperson, alongside other board members, dominated hard-news coverage across SAfm, Power FM and 702. Stations framed it as the biggest governance crisis at the corporation since the Mpati Commission, with the PIC managing over three trillion rand in state employee pension assets and reeling from the Ithala and Lanseria transactions that led to the suspension of the permanent CEO. Saftu called on workers to mobilise in defence of their pensions, insisting transparency cannot be subordinated to the status of senior executives, while analysts warned public confidence has been badly shaken.