Deputy Minister in the Presidency for Planning, Monitoring and Evaluation Seiso Mohai has been appointed to lead the troubled Public Investment Corporation (PIC) following the resignation of Deputy Finance Minister David Masondo last week.
Deputy Minister in the Presidency for Planning, Monitoring and Evaluation, Seiso Mohai, has been handed one of the most significant governance responsibilities in South Africa's public sector after Cabinet approved his appointment as chairperson of the Public Investment Corporation (PIC).
This was announced by Mininster in the Presidency, Khumbudzo Ntshavheni, during a post-Cabinet media briefing in Pretoria on Thursday.
Mohai's appointment comes at a turbulent time for the State-owned asset manager, which oversees more than R3.6 trillion in assets on behalf of the Government Employees Pension Fund, the Unemployment Insurance Fund and other public sector clients.
Cabinet also approved the appointment of seven other non-executive directors to the PIC board.
