PIC Cleared for Crash Landing
from Sharp Sharp Hosted by Financial Mail x Scrolla
Rob Rose and Zukile Majova are joined by Patrick Smith from Africa Confidential for the seventeenth episode of Sharp Sharp, the weekly podcast on South African politics, money and power from Currency News and Scrolla.Africa. This week: the Public Investment Corporation, Africa's biggest single asset manager, is in freefall. The CEO was suspended, five directors have resigned, and two of the ANC's most powerful finance figures are locked in a turf war over who actually runs it. Rob and Zuks unpack why a body managing R3.7 trillion in government pensions keeps ending up here, and Patrick brings in comparisons from across the continent, including Zimbabwe's opaque Mutapa fund and Nigeria's own pension fund troubles. From there, the conversation turns to business's fading faith in Ramaphosa, why replacing bad ministers with worse ones keeps costing him credibility, and what a looming super El Niño could mean for South African farmers and food security across the continent. They close on Air Zimbabwe's resumed London route, and why the story behind it isn't quite the comeback it looks like on the surface.
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