Finance Minister Enoch Godongwana is evaluating potential measures to restore stability at the Public Investment Corporation (PIC), following escalating governance issues and a mass exodus of board members.The PIC, which manages R3.

6 trillion in government employee pensions, faces significant challenges including the suspension of CEO Patrick Dlamini amid allegations of mismanagement in a BEE financing deal involving Acapulco and Lanseria Airport.

Reports indicate the PIC board will convene to address turmoil, potentially leading to a shareholder vote to remove five non-executive directors and deputy chairman David Masondo.Four directors resigned recently, citing unresolved governance concerns, while two others had already left.

The PIC's financial troubles stem from a decade-long failure to secure dividends from Lanseria Airport, resulting in a defaulted R411 million loan.Masondo highlighted the risks of dividend-dependent BEE financing structures, which delay distress recognition.

Investigations by the SIU and FSCA have intensified scrutiny, prompting resignations and raising questions about accountability in state-owned enterprises.