New PIC board appointed, includes Ramos, SARB governor reappointed

PUBLISHED: Wed, 10 Jul 2019 16:52:22 GMT

Press Release: Issued by the Ministry of Finance Date: 10 July 2019

The Minister of Finance, Mr Tito Mboweni, after consultation with Cabinet, has appointed an Interim Board of Directors (BoD) at the Public Investment Corporation (PIC). 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 BoD. The members of the Interim BoD are as follows:

Ms Sindi Mabaso–Koyana, non-executive director of Eskom and Chairperson of AIH 
Ms Irene Charnley, former director at MTN and founder of Smile Group
Ms Tshepiso Moahloli, chief director: liability management at Treasury
Ms Maria Ramos, former CEO of Absa and non-executive director of AngloGold Ashanti
Ms Barbara Watson, chief director of transformation policies at the Department of Public Service and Administration
Mr Ivan Fredericks, general manager at PSA
Mr Zola Saphetha, General Secretary of NEHAWU
Mr Bhekithemba Gamedze, GEPF board of trustees
Dr Angelo David
Sabelo de Bruin
Prof Bonke Dumisa, economist
Advocate Makhubalo Ndaba, company secretary of Platinum Hospitality Holdings
Dr Reuel Khoza, former chairman of Nedbank and chairperson of Platinum Hospitality Holdings


Mr Pitsi Moloto

Dr Xolani Mkhwanazi


On the South African Reserve Bank (SARB), President Cyril Ramaphosa, after consultation with the Minister of Finance and the Board of Directors of the SARB, has re-appointed Mr Lesetja Kganyago to serve as Governor of the SARB for another five years, effective from 9 November 2019. Mr Kganyago’s current term expires on 8 November 2019. The President has, also after consultation, appointed Ms Fundi Tshazibana and Dr Rashad Cassim as Deputies Governor of the SARB for a period of five years each, effective 1 August 2019. Ms Tshazibana is currently the Adviser to the Governors of the SARB and holds a Master’s of Commerce degree in Economics, while Dr Cassim is currently Head of Economic Research and Statistics at the SARB, and holds a PhD in Economics.

Minister Mboweni said of the appointments: “We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing South Africa at the current moment. They have my full support and confidence that they will take South Africa forward as we move to bring development to our people.”

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