While it has been a tradition since 1994 for the deputy minister of finance to chair the PIC, it was not the case for Masondo, who has been deputy finance minister since May 2019.
Before, the finance minister appointed the PIC board at his or her discretion, but now the board appointment has to go through the cabinet. Economist Khaya Sithole described the appointment of the new PIC board, the third board appointed under Ramaphosa’s leadership, as an important moment in the recent history of the corporation.
“That is at odds with what the Mpati Commission had in mind. It wanted to depoliticise the governance system, but the PIC Amendment Bill entrenched the politicisation of it all and that is how we ended up with David Masondo being appointed today as the chair of the PIC,” said Sithole. “Obviously, I think that the rest of the board is quite balanced in terms of the skills set that they wanted to be able to put together.
His first point of business should be getting back the money from Iqbal Survé.
David Masondo abused his powers to settle a score with a lover, misusing the Hawks! These are the problems leading to the ANC collapse in the LG elections!
I think I'm one of the most happiest person on earth,I can't hold to this surprise alone, I will never stop to appreciate mr Geoffreypreud thanks for your good and honest work done I appreciate.....🙌
Don't forget Lootfreely house needs money.
Loot de loot, halala loot de loot
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Cabinet confirms deputy finance minister David Masondo as PIC chairDeputy finance minister David Masondo is the new chair of the Public Investment Corporation (PIC). Ehat happened to THAT lady and abortion? Congrats my friend
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