The Ministry of Finance on May 27 announced that Cabinet had approved its recommendation of appointing Abel Moffat Sithole as CEO and nonexecutive director of the Public Investment Corporation (PIC), for a period of five years.
Sithole is currently the principal executive officer of the Government Employees Pension Fund and the commissioner of the Finance Sector Conduct Authority.
Previously, he served as deputy executive director at the Institute of Futures Research, at the University of Stellenbosch Business School and in nonexecutive roles.
Finance Minister Tito Mbonweni thanked acting CEO Vuyani Hako for his contribution to the PIC.
PIC chairperson Dr Reuel Khoza will at a later date publish further information on the terms and conditions of Sithole’s employment.