Batandwa Damoyi appointed PIC CFO

4th April 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online


Font size: - +

The Public Investment Corporation (PIC) has appointed Batandwa Damoyi as its new CFO.

She is a chartered accountant with more than 16 years of experience post articles in corporate finance.

She also completed the Strategic Leadership Programme at the Gordon Institute of Business Science.

Damoyi has served on several company boards in both the public and private sectors. Notably, she was CFO and executive director at African Exploration Mining and Finance from 2012 to 2019, and at BAIC Automotive South Africa, respectively, the PIC points out.

She then founded Libana Consulting in 2019.

At the PIC, Damoyi will be responsible for maintaining adequate accounting records, prudent financial controls and for the integrity of the PIC’s financial statements in line with the International Financial Reporting Standards.

This includes ensuring that the internal financial controls are sound and overseeing the external audit process by the Auditor-General of South Africa (AGSA).

In welcoming her appointment, PIC CEO Abel Sithole emphasised that the PIC must build on its record of unqualified audit reports, sound internal controls and prudent investments.

“No significant instances of fruitless and wasteful expenditure were incurred and no material findings or misrepresentations in the financial statements were raised by the AGSA during the past financial year.

“The laudable efforts of Brian Mavuka, who acted as CFO since November 2018, and the five consecutive years of unqualified audit opinions by the AGSA, must be recognised,” Sithole said.

He expressed confidence that Damoyi, given her qualifications, experience and commitment to ethics and integrity, would lead these efforts to entrench sound management, leadership, compliance, stringent governance and internal controls at the PIC. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online



John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...


Latest Multimedia

sponsored by

Magazine round up | 24 May 2024
Magazine round up | 24 May 2024
24th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.293 0.344s - 143pq - 2rq
Subscribe Now