Judgment reserved in suspended PIC CEO reinstatement case

The Gauteng High Court in Pretoria has reserved judgment in suspended Public Investment Corporation CEO Patrick Dlamini’s urgent application for reinstatement. Dlamini argues that the board’s decision to suspend him was unlawful and that only the Finance Minister holds the authority to take such action. The case was heard by Judge Mandla Mbongwe on 28 July 2026.

Dlamini contends that the suspension breached the Public Investment Corporation Act, the memorandum of incorporation and the delegation of authority, which vest sole power to appoint, discipline or suspend the CEO in the minister. He also claims the board violated procedural fairness by leaking the decision to the public before serving formal notice.

Civil society group Public Interest SA, which joined the proceedings as a friend of the court, expressed satisfaction with the arguments presented. Chairperson Tebogo Khaas said the judge had not anticipated the strength of the submissions and that the matter now rests with the court.

Dlamini stated that immediate reinstatement is necessary to provide stability for the institution’s 1.7 million government sector worker beneficiaries. The board maintains it acted within its fiduciary duties to investigate serious allegations contained in a whistleblower complaint.

Makala yanayohusiana

Deputy Finance Minister David Masondo resigning from his role as Public Investment Corporation chair to ensure institutional stability.
Picha iliyoundwa na AI

David Masondo resigns as PIC chair in interests of stability

Imeripotiwa na AI Picha iliyoundwa na AI

Deputy Finance Minister David Masondo has resigned as chairperson of the Public Investment Corporation. He cited the need to ensure stability for the institution and the savings of millions of South Africans.

The Public Investment Corporation board has started assessing allegations against chief executive Patrick Dlamini following a whistleblower complaint about governance issues linked to a Lanseria Airport dispute.

Imeripotiwa na AI

Public Investment Corporation chairperson David Masondo told staff on 16 July that the board was not informed of Financial Sector Conduct Authority requests for documents on a whistleblower complaint.

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Imeripotiwa na AI

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President Cyril Ramaphosa addressed South Africans on Monday to declare he will not resign following the Constitutional Court ruling on the Phala Phala matter. He announced plans to seek a judicial review of the independent panel report. The president maintained that he has committed no crime.

Imeripotiwa na AI

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