Futhi Mtoba and Karabo Morule have been appointed to the Public Investment Corporation’s (PIC’s) interim board, following the departure of prior interim board members.
The current board was appointed in July 2019 on an interim basis for a period of 12 months, which ended in July 2020. This term was extended by 15 months by Finance Minister Tito Mboweni, at which point, some board members indicated that they would not be serving on the board for the full duration of 15 months.
These board members were Irene Charnley, Sindi Mabaso-Koyana, Maria Ramos and Bhekithemba Gamedze.
The departure of these board members was expected, the PIC said on February 4, “as they had made it known at the time when their term was extended”.
Their departure was for personal reasons and not a reflection on the PIC, the institution added.
The current board is quorate and continues to execute its functions, including implementing the recommendations of the Mpati Commission of Inquiry.
A presentation on the implementation of the Mpati Commission recommendations was made by Mboweni, National Treasury and the PIC to the Standing Committee of Finance at the end of November 2020 and “significant progress has been made in this regard”.
The Minister has been confirmed to be working on the appointment of a permanent board.