This site requires JavaScript to be enabled. Please enable JavaScript in your browser settings, or upgrade to a modern browser.

BizNews Edge: R3.5tn pension fund manager PIC in crisis as FSCA launches Section 135 probe

Loading player...

The PIC's governance crisis has reached the regulator. Hours after suspending CEO Patrick Dlamini and acting CIO August Uys, the board now faces a formal FSCA Section 135 investigation into governance, leadership and transparency at the R3.5 trillion asset manager. DA federal finance chairperson Dr Mark Burke tells Alec Hogg why this is the fifth executive suspension in two years, how a murky Lanseria Airport shareholding sits behind Dlamini's fall, and why two ANC factions inside the GNU are pulling in opposite directions on the PIC's unlisted investments. Also on today's Edge: Amazon's quiet regulatory win over Starlink, a rescue deal taking shape for ArcelorMittal's Newcastle Works, and a tidy payday for Prosus in Uber's swoop on Delivery Hero.

16 Jul 8AM English South Africa Investing · Business News

Other recent episodes

BN Edge | CapeXit's Jack Miller unpacks 19 years of fighting for Cape independence

Nineteen years after turning a Facebook group into a political party, Jack Miller still hadn't won the Cape its independence, and he told Alec Hogg he had made his peace with the possibility that he never might. What he hadn't given up on was the leverage. With the Cape Independence…

20 Oct 8AM 1 hr 13 min

Zuma’s super spy’s secret trial

Former President Jacob Zuma's “super spy”, the once feared and powerful Thulani Dlomo, has gone on trial in great secrecy with a fellow former spy boss for allegedly making off with R12 million of State Security Agency (SSA) funds under false pretenses. In this interview with Chris Steyn, Willem Els…

20 Oct 6AM 19 min

BN Daybreak: Mining in SA not impossible; who leads Joburg mayoral race?; Wicknell Chivayo's motives

A copper mine that had sat idle and flooding for 35 years finally had its first Glencore tranche unlocked, and Orion Minerals CEO Tony Lennox argued that South Africa's reputation as a near-impossible place to mine had been overdone. Michael Marchant of Open Secrets explained why Wicknell Chivayo flaunted Rolls-Royces…

19 Oct 11PM 13 min

BN Edge | Orion CEO Tony Lennox: Glencore cash, Prieska, BHP, SA mining myths, takeovers

The Prieska copper-zinc mine had stood idle for 35 years, its lower workings filling with water. After eight months of negotiation spanning South Africa, Australia, Switzerland and Canada, the first US$40m of Glencore's US$250m package finally became unconditional, with money due to flow from the end of October. Orion Minerals…

19 Oct 7AM 20 min

BN Daybreak: DA leads Joburg poll; Moeng on McKenzie; Wierzycka’s Anthropic bet; Max Smart’s rise

Analyst Wayne Sussman unpacks an eNCA/Markdata survey putting the DA on 35% in Johannesburg and the ANC just under 22%, in a city the ANC has always led, with MK, the EFF and ActionSA all above 10%. Commentator Solly Moeng says Patriotic Alliance supporters must decide whether they are backing…

18 Oct 11PM 13 min

All episodes