Mboweni confirms Abel Sithole as new PIC CEO
Mboweni lauded former acting CEO Vuyani Hako for steering the organisation through challenging times.
GEPF principal executive officer Abel Sithole says if the fund moved 10% of its allocation offshore, the whole country would feel it. Image: Moneyweb
Cabinet has resolved to appoint Abel Moffat Sithole as the CEO of the Public Investment Corporation (PIC).
Finance Minister Tito Mbowena announced the appointment on Wednesday, confirming that Cabinet had approved that the board of directors of the PIC proceed with Sithole’s appointment as CEO and Executive Director of the board of directors for a period of five years.
The chairman of the PIC, Reuel Khoza, will elaborate on the process followed for the appointment, including the terms and conditions of Sithole’s employment.
Mboweni lauded former acting CEO Vuyani Hako for steering the organisation through challenging times.
“We also congratulate Mr Sithole on his appointment as CEO and wish him well in leading the organisation and in restoring its integrity”.
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