New interim board for PIC

Thursday, July 11, 2019

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 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 13-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
  • Mr Mugwena Maluleke 

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 government - is the only investment management company in South Africa that focuses exclusively on the public sector. –