Deputy Minister in the Presidency for Planning, Monitoring and Evaluation Seiso Mohai has been appointed to lead the troubled Public Investment Corporation (PIC).
The appointment of a new board for the Public Investment Corporation (PIC) has renewed focus on the full implementation of the recommendations of the retired Judge Lex Mpati Commission of Inquiry.
The government, labour and opposition parties on Thursday all called for governance reforms to be accelerated at South Africa's largest asset manager.
Managing more than R3.6 trillion on behalf of the Government Employees Pension Fund, the Unemployment Insurance Fund and other public sector clients, the PIC remains one of the country's most strategically important financial institutions.
Cabinet on Thursday approved the appointment of Deputy Minister in the Presidency for Planning, Monitoring and Evaluation Seiso Mohai as chairperson of the PIC board, together with seven other non-executive directors, in a move aimed at stabilising the institution following the resignation of the previous board.
