Leadership & Key Appointments
- Chairperson: Seiso Mohai, Deputy Minister of Planning, Monitoring and Evaluation.
- GEPF Representatives:
- Lebogang Mokgabudi (former GEPF board member and former senior manager at Visa)
- Swazi Tshabalala (former Senior Vice-President of the African Development Bank and former Standard Bank executive)
- National Treasury Representative: Moipone Ramoipone (Office of the Accountant General)
- Additional Board Members:
- Patience Nqeto (Deputy Chair of the Development Bank of Southern Africa – DBSA)
- Ouma Rasethaba (former NPA prosecutor and former Telkom policy/chief risk officer)
- Vivien McMenamin (CEO of Mondi)
- Itani Mafune (Chartered Accountant with former leadership roles at MTN and Absa)
Context & Background
- Previous Board Resignation: Most members of the previous PIC board resigned shortly before these appointments, including Deputy Finance Minister David Masondo.
- Internal Friction: The overhaul follows significant disagreement between Finance Minister Enoch Godongwana and former board members over key decisions, including attempts to restructure the Chief Investment Officer role and the suspension of PIC CEO Patrick Dlamini based on an unverified whistleblower report.
- Governance Reform: Cabinet noted it will revisit recommendations from the Mpati Commission of Inquiry, which notably suggested that the PIC board should not be chaired by a politician—a change that would require amending the PIC Act.
