A South African court has ordered the reinstatement of the head of Africa’s largest asset manager, overturning a board suspension that triggered weeks of governance chaos at the $200 billion state-owned pension fund. Patrick Dlamini returns to lead the Public Investment Corporation — the lifeblood of South African capital markets, holding roughly 20% of the Johannesburg bourse — alongside a completely overhauled board. The court ruled the previous board acted unlawfully when it suspended Dlamini last month without requiring government approval. That suspension sparked a high-level rift between Finance Minister Enoch Godongwana and the former board chair David Masondo, who is also his deputy minister. Godongwana appointed Seiso Mohai, a deputy minister in President Cyril Ramaphosa’s office, alongside new executive directors including former African Development Bank vice president Swazi Tshabalala.