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The Chairperson of the Standing Committee on Finance, Dr Joe Maswanganyi, has welcomed Cabinet’s appointment of Deputy Minister of Planning, Monitoring and Evaluation Mr Seiso Mohai (MP) as Chairperson of the Board of the Public Investment Corporation (PIC), describing it as a significant step towards strengthening governance stability and institutional continuity at one of South Africa’s most strategically important state-owned asset management institutions.
 
Mr Mohai brings extensive governance experience, having served for many years in Parliament and in the Free State legislature. Dr Maswanganyi said the committee looks forward to engaging with the new Board as it assumes responsibility for providing strategic leadership and oversight to the institution.
 
He said the appointment presents an important opportunity to build on the governance gains achieved at the PIC and to further reinforce public confidence in the institution. He added that the committee is confident Mr Mohai, together with the Board, will provide stable and effective leadership, while ensuring that the PIC remains firmly focused on fulfilling its mandate in the best interests of its clients and beneficiaries.
 
The Standing Committee will soon meet with the Board to address some of the challenges facing the PIC and to reassure workers that their hard-earned pensions remain secure. The Standing Committee owes a debt of gratitude to the outgoing board, led by Dr David Masondo, whose strategic stewardship leaves a lasting legacy; we wish them continued success in all future leadership pursuits.

Issued by Parliamentary Communication Services on behalf of the chairperson of the Standing Committee on Finance, Dr Joe Maswanganyi