South Africa’s Public Investment Corp., the continent’s biggest fund manager, said it suspended Chief Operating Office Vuyani Hako pending an investigation into allegations of misconduct against him.
The Pretoria-based PIC, which released a statement on Hako’s suspension on Thursday, didn’t give details of the allegations.
Separately, Lusanda Kali, the acting executive head of developmental investments and private equity, and Sholto Dolamo, the head of research and projects development, resigned, the PIC said. Dolamo was also recently acting chief investment officer.
The suspension and resignations are the latest turmoil to hit the fund manager, which oversees 2.34 trillion rand ($151 billion) in mainly government worker pensions.
The PIC was the subject of a judicial inquiry, which questioned governance and political interference at the institution. A number of senior executives including its then Chief Executive Officer Dan Matjila, quit or were suspended during or after the proceedings.
“The PIC would like to
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