Godongwana says PIC faces governance, not financial failures.

Finance Minister Enoch Godongwana says the Public Investment Corporation (PIC) is facing governance failures rather than financial difficulties. In an exclusive interview with the SABC team of Samkele Maseko and Busi Bopela, Godongwana says several institutions, including the Financial Sector Conduct Authority, the Auditor-General, the Special Investigating Unit and the Public Protector, are probing governance concerns at the asset manager. He says the PIC remains financially sound, but the newly appointed board must restore confidence and strengthen governance.