Why attempted “capture” of the PIC failed so miserably isn’t rocket science

By Alec Hogg

In a collective attempt to understand the complex world we inhabit, much of today’s narrative is over simplified. Especially in South Africa, whose leaders so love experimenting in social engineering. Where there was once apartheid, we now have empowerment. We’ll all be better served when those doing the governing decide to focus, instead, on unleashing the irresistible power of people’s ingenuity.

Public Investment Corporation (PIC) CEO Daniel Matjila.

But given where the attention currently lies, there should be little criticism of the State’s massive investment house whose assets surpassed R2 trillion in the year to end March. Reading through the PIC’s 300-page annual report, released to Parliament yesterday, chronicles an organisation fulfilling its “Empowerment” mandate on every conceivable level.

Which isn’t surprising considering the specific goals and the brainpower on its directorate. The lead independent director has a PhD in Applied Physics. The CEO has his in Mathematics. The rest are mostly engineers, chartered accountants, lawyers or MBAs. Which helps explain the miserable failure or the attempted “capture” of the PIC by a bunch of low IQ political functionaries (feeding “journalist” allies). SA is normalising. You just need to look in the right places.

* Good news for those who have diarised being at November’s epic battle between the Springboks and England at Twickenham. We’ve secured a block of tickets to the (otherwise) members-only London Sporting Club dinner on the Tuesday night before the game. This unique event features former Bok skipper Bob Skinstad and visiting SA historian Michael Charton, whose other event in London was sold out in under 24 hours. So if you’re in London late October, click here to add this special occasion to your calendar.