Finance Minister Enoch Godongwana has defended the government’s handling of the Public Investment Corporation (PIC) leadership crisis.
Finance Minister Enoch Godongwana has rejected claims that he avoided appointing his Democratic Alliance (DA) deputy minister, Ashor Sarupen, as chairperson of the troubled Public Investment Corporation (PIC) because he is from a different political party.
The comments follow the resignation of former PIC chairperson David Masondo, an African National Congress (ANC) member and deputy minister of finance, who stepped down last week in a move he said was intended to restore stability and confidence in the institution.
The PIC manages more than R3 trillion in public sector investments, including funds held on behalf of the Government Employees Pension Fund (GEPF), making its governance and stability a matter of national importance.
Cabinet has since appointed a new PIC board as government moves to restore confidence in the institution and accelerate the implementation of reforms recommended by the Mpati Commission of Inquiry.
