President Cyril Ramaphosa says the government’s intervention at the Public Investment Corporation (PIC) is aimed at strengthening governance and ensuring stability at the state asset manager.
The comments follow changes to the PIC board, including the appointment of Deputy Minister in the Presidency for Planning, Monitoring and Evaluation, Seiso Mohai, as the new chairperson.
Ramaphosa was speaking during the ANC’s voter registration campaign in Emalahleni, Mpumalanga.
“It’s a very important institution that we need to safeguard. It manages almost half of the worth of our GDP, R3.6 trillion, so when there are governance challenges, we have to act so that there is no instability. Our actions are aimed at just solidifying the stability and getting the PIC to move forward in a much stronger way.”
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