PIC CEO’s Lanseria Deal Ties to Hidden Partner in Suspension BODY: Johannesburg, South Africa — The Public Investment Corporation (PIC) has suspended its CEO, Patrick Dlamini, amid concerns over his handling of a Lanseria Airport deal, which has now tied to a hidden partner in the transaction.
The PIC board’s decision to place Dlamini on precautionary suspension comes amidst a formal investigation by the financial regulator into allegations of impropriety.
The Lanseria Airport deal has been a contentious issue, with the PIC’s valuation of the airport soaring from R464 million to R4.
1 billion in mere months. This dramatic increase in valuation led to the PIC being required to make a payment of over R400 million due to the deal’s structure and valuation issues.
The PIC’s involvement in the Lanseria deal has raised concerns about governance and impropriety, given that the PIC is a state-owned entity and plays a crucial role in managing public funds.
According to a report by PwC, arbitrators involved in the dispute between the PIC and Acapulco, a BEE outfit, used a Wikipedia article to support their decision, which resulted in the PIC being R400 million poorer. This revelation has further compounded the controversy surrounding the Lanseria deal. Dlamini’s suspension was approved by nine out of the 11 PIC board members, with the board emphasizing that the suspension does not constitute a finding of wrongdoing.
The PIC board’s perspective is that the suspension is a precautionary measure to allow for a fair and independent investigation into the allegations against Dlamini.
The PIC CEO, Patrick Dlamini, has maintained that he is fighting for his reinstatement and believes the suspension is unjust. Dlamini’s perspective on the situation is that he is fighting for his reinstatement and believes the suspension is unjust.
The suspension of Dlamini and the scrutiny of the Lanseria deal have raised questions about the PIC’s governance and the management of public funds.
The PIC’s role in managing public funds makes the situation a matter of public interest and concern.
As the investigation into the Lanseria deal continues, The PIC’s suspension of its CEO and the ongoing investigation into the Lanseria deal are likely to continue to be a focus of public attention and scrutiny.
South Africa’s PIC suspends CEO over Lanseria deal linked to billionaire Tshepo Mahloele’s Harith — Billionaires. Africa/2026/07/15/south-africas-pic-suspends-ceo-over-lanseria-deal-linked-to-billionaire-tshepo-mahloeles-harith/ (billionaires.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Google News v2
