Deputy Finance Minister David Masondo has resigned from his position as chairperson of the Public Investment Corporation (PIC).
In a statement, Masondo says that his decision is in the interest of the country and the continued stability of the PIC.
Masondo further says, ” I also hope that the outstanding issues that the previous Board was dealing with, including the whistleblowers report, the allegations against the CEO, the Acapulco matter which I referred to the SIU, and other related issues will be investigated thoroughly.”
On Wednesday it was reported that Finance Minister Enoch Godongwana has called for a general meeting of the Public Investment Corporation (PIC) for 27 July.
The meeting is set to vote on the removal of nine non-executive directors of the PIC Board, including Masondo.
But it is understood that four of the nine non-executive directors resigned on Monday.
This follows major ructions at the largest asset manager in the country, including the placing on precautionary suspension of its Chief Executive, Patrick Dlamini, earlier this month and the almost subsequent resignation of two non-executive Board directors.
This included Thabi Nkosi, former Chairperson of the Land Bank.
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