Mboweni announces Sarb & interim PIC boards

The chairperson and deputy chairperson of the PIC board were expected to be elected at the first meeting of the board.

FILE: Finance Minister Tito Mboweni. Pictures: EWN.

JOHANNESBURG - Finance Minister Tito Mboweni announced the appointment of an interim board at the Public Investment Corporation (PIC).

In a statement issued on Wednesday afternoon, Treasury said Mboweni made the decision after consultation with Cabinet. The acting board would be effective from Friday 12 July 2019 to 31 July 2020.

The chairperson and deputy chairperson were expected to be elected at the first meeting of the board.

Members of the interim board were as follows:

• Ms Sindi Mabaso – Koyana
• Ms Irene Charnley Ms Tshepiso Moahloli

• Ms Maria Ramos
• Ms Barbara Watson

• Mr Ivan Fredericks

• Mr Zola Saphetha
• Mr Bhekithemba Gamedze

• Dr Angelo David Sabelo de Bruin

• Prof Bonke Dumisa

• Advocate Makhubalo Ndaba

• Dr Reuel Khoza

Re-appointed board members of the PIC:
• Mr Pitsi Moloto
• Dr Xolani Mkhwanazi


In the same statement, Treasury also announced the re-appointment and appointments at the South African Reserve Bank (Sarb) after President Cyril Ramaphosa consulted with Mboweni and the board of directors of the Sarb.

The president re-appointed Governor Lesetja Kganyago to serve again for another five years effective from 9 November 2019. Kganyago’s current term expires on 8 November 2019.

“The President has, also after consultation, appointed Ms Fundi Tshazibana and Dr Rashad Cassim as Deputies Governor of the Sarb for a period of five years each, effective 1 August 2019. Ms Tshazibana is currently the Adviser to the Governors of the Sarb and holds a Master’s of Commerce degree in Economics, while Dr Cassim is currently Head of Economic Research and Statistics at the Sarb, and holds a PhD in Economics," the statement read.

Mboweni said of the appointments: “We congratulate the appointees and look forward to working with them. We need not remind them of the tough economic and fiscal circumstances facing South Africa at the current moment. They have my full support and confidence that they will take South Africa forward as we move to bring development to our people.”