After months of processes and thorough consideration, Abel Moffat Sithole has been appointed as the new CEO of the Public Investment Corporation. Mr Sithole is currently the Principal Executive Officer of the Government Employees Pension Fund and the Commissioner of the Financial Sector Conduct Authority. PIC Chairperson, Dr Reuel Khoza joins CNBC Africa for more.
On Wednesday, South African Finance Minister Tito Mboweni announced the appointment of Abel Sithole as the Chief Executive Officer of the Public Investment Corporation (PIC) and Executive Director on the Board of Directors.
The Public Investment Corporation, which manages assets on behalf of the Government Employees Pension Fund was at GEPF's annual results presentation. Reuel Khoza, Chairperson of the Public Investment Corporation provided an update on when it will appoint a new CEO and explained why it is not conducting a witch hunt against Iqbal Survé, who heads Sekunjalo Investments.
The Public Investment Corporation delivered its annual results in Parliament today. During its presentation to the standing committee on finance the PIC said it is considering an application to liquidate Sekunjalo and revealed that it grew assets under management by R48 billion to R2.1 trillion. Chairman of the PIC Board, Dr Reuel Khoza spoke to CNBC Africa about its investment in Old Mutual.
The board of the Public Investment Corporation have requested that Finance Minister Tito Mboweni dissolve it. Mondli Gungubele, Deputy Minister of finance and Chairperson of the Public Investment Corporation joins CNBC Africa for more.
The commission of Inquiry investigating the Public Investment Corporation continues their proceedings today in Pretoria. From the three witnesses that have testified so far there has been no evidence provided for misconduct or corruption in their respective departments at the PIC. CNBC Africa Kopano Gumbi share more details.
Shareholders of Texton Property Fund have voted against the repurchase of shares from the Public Investment Corporation. Joining CNBC Africa to discuss the ramifications of Texton shareholders’ refusing to the share buyback is Sinesipho Maninjwa, CA & Independent Analyst.
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