Deputy Finance Minister David Masondo has resigned as chairperson of the Public Investment Corporation (PIC), a significant asset manager with R3.6 trillion under its control. The resignation comes as the PIC faces a growing governance crisis, fueled by issues surrounding CEO Patrick Dlamini and recent board member departures. Masondo stated his decision was made to safeguard public confidence in the vital institution. His departure aims to stabilize the PIC during a period of internal turmoil and scrutiny. The PIC plays a crucial role in funding South Africa's social programs and infrastructure projects. The instability raises questions about the future leadership and direction of the PIC as it navigates these challenges. Further developments regarding Dlamini’s position and board replacements are anticipated.