Finance minister Tito Mboweni does not believe the chair of the public investment manager that manages almost R2-trillion in assets should be a deputy minister, as provided for in a bill waiting for President Cyril Ramaphosa’s signature.
The Public Investment Corporation (PIC) Amendment Bill, which was passed by the two houses of parliament in March 2019 and has still not been signed into law, provides that the finance minister must designate the deputy finance minister or any deputy minister in the economic cluster, in consultation with cabinet, to be chair of the PIC board...
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