14 July 2026 | Johannesburg

The South African Entrepreneurs Movement (SAEM) welcomes the decision by the Board of the Public Investment Corporation (PIC) to place its Chief Executive Officer on precautionary suspension pending an independent investigation into allegations raised through the institution’s whistleblower processes. The Board has emphasised that the suspension is precautionary and does not constitute a finding of wrongdoing, while the investigation proceeds.

As an organisation representing entrepreneurs across South Africa, SAEM believes that strong governance, transparency and accountability are fundamental to protecting the retirement savings of millions of South Africans, including government employees and pensioners whose funds are entrusted to the PIC.

The savings of our parents, grandparents and pensioners are not merely financial assets—they represent decades of hard work, sacrifice and hope for a dignified retirement. Every investment decision taken by the PIC must therefore be guided by the highest standards of integrity, accountability and prudent stewardship.

SAEM further calls on the PIC Board to use this opportunity to review how entrepreneurs, particularly emerging black entrepreneurs, township businesses, rural enterprises and innovative small and medium-sized businesses, are supported through the PIC’s investment mandate.

South Africa cannot solve its unemployment crisis without significantly expanding access to finance for entrepreneurs who have the ability to start businesses, grow existing enterprises and create sustainable jobs. Capital should increasingly be deployed towards productive investments that stimulate economic growth, industrialisation, innovation and employment while delivering appropriate long-term returns for pension beneficiaries.

SAEM recommends that the PIC:

* Continue strengthening governance, transparency and accountability across the institution.
* Protect the retirement savings of all pensioners through prudent investment oversight.
* Expand funding opportunities for entrepreneurs and high-growth businesses capable of creating sustainable employment.
* Increase investment into sectors that promote inclusive economic growth, infrastructure development and innovation.
* Improve engagement with entrepreneurs and industry stakeholders to identify investment opportunities that generate both financial returns and measurable socio-economic impact.

South Africa’s entrepreneurs stand ready to partner with institutions such as the PIC in building a stronger, more inclusive economy. By investing wisely in productive enterprises, we can simultaneously protect pensioners’ savings, stimulate economic growth and create meaningful employment opportunities.

Issued by:
South African Entrepreneurs Movement (SAEM)
One Movement. One Voice. One Future.

#OneMovementOneFuture