BizNews Radio

The PIC's governance crisis has reached the regulator. Hours after suspending CEO Patrick Dlamini and acting CIO August Uys, the board now faces a formal FSCA Section 135 investigation into governance, leadership and transparency at the R3.5 trillion asset manager. DA federal finance chairperson Dr Mark Burke tells Alec Hogg why this is the fifth executive suspension in two years, how a murky Lanseria Airport shareholding sits behind Dlamini's fall, and why two ANC factions inside the GNU are pulling in opposite directions on the PIC's unlisted investments. Also on today's Edge: Amazon's quiet regulatory win over Starlink, a rescue deal taking shape for ArcelorMittal's Newcastle Works, and a tidy payday for Prosus in Uber's swoop on Delivery Hero.

In today's BizNews Daybreak, US-Iran tensions steady oil and Korean tech stocks slide. Fed Chair Kevin Warsh defends his personal trading, while South Africa's PIC faces a deepening executive exodus. We also unpack more on the DA’s Tony Leon lobbying scandal, the temporary closure of London's SA House, and a blunt warning from KPMG's Diane Swonk that persistent US inflation demands two interest rate hikes.

In his latest chat with Chris Steyn, political commentator Solly Moeng dissects the widening scandal around Tony Leon's lobbying amid former Democratic Alliance (DA) leader John Steenhuisen’s mission of vengeance and the damaging fall-out for the party. “...what is very clear is that the DA is no longer just walking on still waters…Geordin Hill-Lewis can't be sleeping with both eyes closed right now...” Moeng also comments on the skeletons toppling out of closets thanks to the Madlanga Commission of Inquiry, including the relationship between Crime Intelligence (CI) Chief General Feroz Khan and Economic Freedom Fighters (EFF) CIC Julius Malema. As for IDAC Chief Andrea Johnson’s sudden hospitalisation ahead of her appearance, Moeng says: “...we see the growth of this so-called Madlanga Ward at some hospital out there…We've been a country of no consequences for too long. They might try…by getting hospitalised, delay processes, lie, protect one another. South Africans must not sleep until there are consequences. We're not just looking for entertainment, we're looking for people to fall because they cannot do this to South Africa and get away with it.” Meanwhile, Moeng hails the arrest of former Ekurhuleni City Manager Imogen Mashazi, one among a spate of top officials and policemen facing the law after being implicated at the inquiry into police and political capture.

South Africa House in Trafalgar Square, a fixture of SA's diplomatic presence in London since 1933, has closed its doors, with the DA's Ryan Smith blaming decades of Dirco neglect and Dirco insisting it's a planned upgrade. Alec Hogg unpacks the row, plus three stories reshaping money and power: the PIC's suspension of chief executive Patrick Dlamini has drawn a formal FSCA probe, chipmaking giant ASML posted a decisive earnings beat, and IBM suffered its worst single-day share drop in history after admitting AI spending is gutting its legacy software business. Four institutions, one lesson: neglect gets found out.

South Africa House, the country's historic diplomatic landmark in London's Trafalgar Square, has closed for major renovations, sparking fierce political debate. The DA accuses DIRCO of years of neglect, poor maintenance and a lack of transparency, while government insists the closure is temporary and planned. Ryan Smith argues the controversy exposes wider failures across South Africa's foreign missions, from crumbling embassy buildings to questionable diplomatic appointments, raising serious concerns about accountability, taxpayer value and the country's global image.