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?
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.