15 July 2026

The South African Entrepreneurs Movement (SAEM) welcomes the announcement by the Financial Sector Conduct Authority (FSCA) that it has launched an investigation into the Public Investment Corporation (PIC). According to public reports, the FSCA indicated that it is concerned about governance, leadership stability and transparency at the PIC and intends to investigate under its statutory powers. PIC directors quit as instability takes hold at govt asset manager – News24

SAEM believes that strong governance, accountability and transparency are fundamental to maintaining public confidence in South Africa’s financial institutions, particularly institutions entrusted with managing the retirement savings of millions of South Africans.

As a movement representing entrepreneurs across South Africa, SAEM has consistently advocated for fair, transparent and accountable treatment of entrepreneurs seeking investment, funding and commercial partnerships with public institutions.

Should the FSCA require stakeholder evidence during its investigation, SAEM confirms that a number of its members are prepared to participate in the process by providing factual information and sharing their experiences where relevant.

Furthermore, SAEM will engage with its members across the country to identify cases where entrepreneurs believe they were treated unfairly by the PIC or related investment processes. Where appropriate and supported by evidence, SAEM will assist those members in lodging formal complaints with the relevant regulatory authorities.

This initiative is not intended to prejudge the outcome of the FSCA’s investigation. Rather, it seeks to ensure that entrepreneurs who have legitimate concerns have an opportunity to be heard through the appropriate legal and regulatory channels.

SAEM remains committed to working constructively with regulators, government and all stakeholders to promote a transparent investment environment that supports entrepreneurship, protects pensioners’ savings and strengthens confidence in South Africa’s financial system.

Issued by:
South African Entrepreneurs Movement (SAEM)
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