South Africa’s Cabinet appoints Seiso Mohai to lead the Public Investment Corporation (PIC), following the resignation of David Masondo, who previously served as chair. Multiple reports state that Mohai, who is the Deputy Minister in the Presidency for Planning, Monitoring and Evaluation, is appointed as chair as the government moves to stabilise the PIC after a period of leadership disruption.
The outlets link the appointment to broader efforts to overhaul the PIC’s board after recent resignations and executive suspensions. The government’s actions are presented as part of attempts to restore stability at the state-linked asset manager, described as Africa’s largest, amid ongoing scrutiny and internal changes.
While the reports focus on the appointment and the transition of chairmanship from Masondo to Mohai, they consistently describe the decision as Cabinet-led and connected to a wave of governance changes affecting board membership and senior executives. None of the sources provide further detail on Mohai’s mandate or timelines beyond the chair appointment and the context of the restructuring.
