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PIC board walk out to implicate transactions

But will allow for proper investigation, says this market commentator.

The board of the Public Investment Corporation decided to walk out on Friday. The process of appointing a new board has begun but finance minister Tito Mboweni has said that the current board will stay in place until  he is able to put a new one together.

Will the walkout change the risk profile of SA when it comes to investment and will it hurt the chances of Edcon getting a bail out?

Read: All board members at PIC resign

Makwe Masilela, CIO & founder of Makwe Fund Managers, says the resignation of the board should be welcomed because it will allow for a proper investigation to take place. He talks to Classic Business Breakfast with Moneyweb about the implications of the board walk out and political interference in the state-owned asset manager. 

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