Public Investment Corporation (PIC) chairperson David Masondo addressed employees on July 16th, attempting to quell concerns about the organization’s stability amidst a growing governance crisis. Masondo admitted a significant oversight: the board was not informed about requests for documentation from the Financial Sector Conduct Authority (FSCA). These requests relate to a complaint filed by a whistleblower. This lack of transparency raises questions about the PIC’s internal communication and management practices. Masondo aimed to reassure staff about ongoing operations despite the unfolding issues. The revelation suggests potential failures in informing key decision-makers about critical regulatory matters. The situation underscores ongoing challenges within the PIC, currently grappling with governance concerns.