South African court reinstates state pension fund chief

A South African court ordered the reinstatement of Patrick Dlamini as head of the Public Investment Corporation, overturning a board suspension that caused governance chaos. The court ruled the previous board acted unlawfully by suspending Dlamini without government approval, leading to a rift between Finance Minister Enoch Godongwana and former board chair David Masondo, who resigned. A new board, including Seiso Mohai and Swazi Tshabalala, now oversees the fund amid an ongoing investigation into its governance and $6 billion unlisted portfolio.