The DA has criticised the appointment of Planning, Monitoring and Evaluation Deputy Minister Seiso Mohai as chairperson of the Public Investment Corporation (PIC) board, calling it a "missed opportunity" to restore public trust.

The party expressed “deep concerns” over the selection process for leadership and reiterated its call for urgent legislative changes to remove political interference and establish a “strictly independent” board.

The party also urged President Cyril Ramaphosa and Finance Minister Enoch Godongwana to publish a binding timeline that outlined the finalisation of necessary legislative amendments and the comprehensive execution of the Mpati Commission’s recommendations.

The Commission was mandated to investigate whether a director or employees of the PIC had misused their positions for personal gain; whether legislation or policies regarding the protection of whistleblowers reporting corrupt activities were complied with; and whether discriminatory practices were followed with regard to the remuneration and performance awards of PIC employees.

DA leader Geordin Hill-Lewis said his party has consistently pushed for governance reforms, noting the introduction of draft legislation in Parliament to secure a “properly independent and suitably qualified” board for the PIC.

While legislative amendments remain underway, Hill-Lewis argued that the State missed a crucial chance to rebuild institutional integrity.

He asserted that Finance Deputy Minister Ashor Sarupen would have been a superior interim choice to boost public credibility and actively root out corruption at the institution.

The PIC has faced intense operational instability following a severe leadership crisis, which culminated in the resignation of former chairperson David Masondo and multiple board members. Rather than random misfortune, Hill-Lewis directly attributed this to the ANC policy of prioritising party loyalty over national interests.

He said the “ongoing governance crisis” carries risks for the millions of public servants whose lifetime retirement savings are managed by the PIC.

Weakened leadership and political appointments directly threaten these funds, he warned.

"They deserve the peace of mind that comes from knowing those savings are protected," Hill-Lewis emphasised.

“The DA maintains that the chairperson position must be legally bound to an independent, appropriately qualified specialist rather than a political deployee.”

The DA viewed the State's broad commitment to stability as a necessary acknowledgement, but demanded that the government immediately translate its promises into urgent, transparent, and measurable action.