Finance Minister appoints interim board for Public Investment Corporation

Finance Minister Tito Mboweni has appointed an interim Board of Directors for the Public Investment Corporation (PIC).

The interim appointments were made after the Minister's consultation with Cabinet.

"The appointment shall be effective from 12 July 2019 to 31 July 2020. The chairperson and deputy chairperson shall be elected at the first meeting to be convened by the interim board," said the Ministry of Finance on Wednesday.

The new 12-member interim board is made up of:

Ms. Sindi Mabaso–Koyana

Ms. Irene Charnley

Ms. Tshepiso Moahloli

Ms. Maria Ramos

Ms. Barbara Watson

Mr. Ivan Fredericks

Mr. Zola Saphetha

Mr. Bhekithemba Gamedze

Dr. Angelo David Sabelo de Bruin

Prof Bonke Dumisa

Advocate Makhubalo Ndaba

Dr. Reuel Khoza

The Ministry also announced the reappointment of board members Pitsi Moloto and Xolani Mkhwanazi.

The appointments follow the start of public hearings into allegations of impropriety at the corporation got underway in Pretoria in January.

The PIC - which is wholly owned by the government - is the only investment management company in South Africa that focuses exclusively on the public sector.

(With Inputs from South African Government Press Release)