JOHANNESBURG – Minister of Finance Tito Mboweni announced on Wednesday that he has appointed an interim Board of Directors at the Public Investment Corporation (PIC) following the en-masse resignation of the entire board towards the end of last year.
The surprise move is a contradiction of what new deputy finance minister David Masondo had said in a recent media interview on eNCA.
In the interview, Masondo said he was of the view that a new board would be appointed once the Mpati Commission of Inquiry into impropriety at the PIC was concluded.
In a statement released on Wednesday afternoon, Mboweni said: “After consultation with Cabinet, has appointed an Interim Board of Directors (BoD) at the Public Investment Corporation (PIC).”
According to Mboweni, the appointment shall be effective 12 July 2019 to 31 July 2020.