Newly-appointed chairperson of the Public Investment Corporation Seiso Mohai.
The new board of the Public Investment Corporation (PIC) was broadly welcomed as a measure to bring stability to the corporation, as calls were made for the implementation of the Mpati Commission’s recommendations, especially that the board should not be chaired by a deputy minister.
On Thursday, Minister in the Presidency Khumbudzo Ntshavheni announced the nine non-executive members on the board, which will be chaired by Deputy Minister of Planning, Monitoring and Evaluation Seiso Mohai.
Ntshavheni, who described the appointment of the new board as a measure aimed at addressing current governance challenges at the PIC, said Finance Minister Enoch Godongwana will continue to drive the reforms of the PIC as recommended by the Mpati Commission in consultation with the Cabinet.
The nine non-executive board members were appointed after the PIC experienced resignations by Finance Deputy Minister David Masondo and other board members ahead of a meeting scheduled by Godongwana to dissolve the board in the wake of the suspension of CEO Patrick Dlamini and Acting Chief Investment Officer August van Heerden.
