PIC Board Defends Thabi Nkosi Against Online Allegations

Masondo said the board remains fully confident in Nkosi’s abilities and contribution to the institution, stressing that her appointment followed recognition of her professional achievements and expertise.

The Public Investment Corporation (PIC) Board has strongly defended board member Thabi Nkosi following online allegations questioning her appointment, with Chairperson and Deputy Finance Minister Dr David Masondo describing the claims as unfair and rooted in misogyny.

In a statement issued on behalf of the board, Masondo said Nkosi's position was earned through her professional qualifications, leadership experience and proven track record, rejecting suggestions that her appointment was linked to personal relationships rather than merit.

Board Backs Nkosi's Credentials

Masondo said the board remains fully confident in Nkosi's abilities and contribution to the institution, stressing that her appointment followed recognition of her professional achievements and expertise.

He expressed concern that a successful woman in leadership was being subjected to speculation that sought to undermine her accomplishments. According to Masondo, reducing a woman's achievements to assumptions about personal connections ignores the work, experience and capability that brought her to such positions.

The statement highlighted that Nkosi serves on the board because of her skills and leadership qualities, not because of any claims circulating online.

Concerns Raised Over Misogynistic Attacks

The PIC Chairperson described the allegations as sexist and damaging, saying they go beyond targeting one individual and affect wider efforts to create opportunities for women to lead without facing degrading commentary.

He noted that attacks of this nature can discourage capable women from stepping into leadership roles and contribute to a culture where professional achievements are questioned for reasons unrelated to performance or competence.

Masondo said the board rejects the allegations and stands firmly behind Nkosi, adding that she continues to enjoy the support of fellow board members.

PIC Focused on Its Core Mandate

The board also made it clear that it will remain focused on its responsibilities despite the controversy.

Masondo said the PIC's work involves protecting and growing assets entrusted to it on behalf of workers, pensioners and beneficiaries across South Africa. Maintaining sound governance and fulfilling fiduciary duties remain the organisation's priority.

He said the board would not allow external allegations to divert attention from its mandate, emphasising that its commitment to serving stakeholders remains unchanged.

The statement concluded with a clear message of support for Nkosi, reaffirming the board's confidence in her professionalism and contribution to the work of the PIC.