Turn on more accessible mode
Turn off more accessible mode
Skip Ribbon Commands
Skip to main content
Turn off Animations
Turn on Animations
Sign In
Public Investment Corporation
Search
  • HOME
  • WHO WE ARE
    • About Us
    • Vision, Mission and Values
    • Our Leadership
      • Board of Directors
      • Executive Committee
    • Our Clients
  • OUR BUSINESS
    • Listed Investments
      • Listed Equities
      • Fixed Income
      • Externally Managed Funds
    • Unlisted Investments
      • Impact Investing
      • Private Equity
      • Properties
      • Fund of Funds
  • INVESTMENT PHILOSOPHY AND APPROACH
    • Investment Philosophy
    • Investment Process
    • Risk and Compliance
    • Environmental, Social & Governance
    • Research & Insights
      • Economic Research
      • Sectoral Research
  • APPLY FOR FUNDING
    • Isibaya
    • Properties

Our Leadership

  • About Us
  • Vision, Mission and Values
  • Our Leadership
    • Board of Directors
    • Executive CommitteeCurrently selected
  • Our Clients
Page Content
[section layout="default"]
[section-item]
[row class="page-banner"]
[column 12]
[background layout="default" vertical-alignment="middle" alignment="middle" height="350px" full-screen="true" image="%2FSiteCollectionImages%2Fpagebanners%2FOurLeaders80.png" image-size="cover" image-vertical-position="center" image-repeat="no-repeat" color="night-dark" color-transparency="0.1" parallax="off"][/background] 
[/column] 
[/row] 
[row]
[column 12]
[note color="primary-dark"]

Our Leadership

[/note] 
[/column] 
[/row] 
[/section-item] 
[/section] 
[tabs filled color="primary-dark" responsive="true" alignment="center" id="idWho" preserve-open-tab="true" inactive-tab-color="primary-dark" inactive-text-color="white"]
[tab title="Board%20of%20Directors"]
[row layout="default"]
[column 12 class="text"]
[panel panel-style="solid-header" class="text-panel" color-transparency="0.7" width="100%25" title-size="h3" border-style="none"]
Board Governance
The duties of individual Directors of the PIC, both Executive and Non-Executive Directors, are governed by the PIC Act and the PIC's Memorandum of Incorporation (MOI), the Companies Act of 2008, the Public Finance Management Act of 1999 as well as other applicable laws, regulations and best practice.[/panel] 
[/column] 
[/row] 
[row layout="default" css-code="margin-bottom%3A%20-20px%3B%0A%0A" css_code_compiled=".dynamic-unique-shortpoint-class-name%20%7B%20margin-bottom%3A%20-20px%3B%0A%0A%20%7D"]
[column 6 layout="default"]
[panel panel-style="solid-header" color="primary-dark" title="The%20Board's%20Responsibilities" css-code=".shortpoint-panel-title%7Bmargin-top%3A10px%3B%7D" class="text" color-transparency="0.7" title-size="h3" border-style="none" css_code_compiled=".dynamic-unique-shortpoint-class-name%20.shortpoint-panel-title%7B%0A%20%20%20%20margin-top%3A10px%3B%0A%7D"]The responsibilities of the Board are separate and distinct from those of management and include exercising its leadership role by:
  • Steering the PIC and setting its strategic direction;
  • Approving policy and planning that give effect to the direction provided;
  • Overseeing and monitoring implementation and execution by management; and
  • Ensuring accountability for the PIC's performance by means of, amongst others, reporting and disclosures.
[/panel] 
[/column] 
[column 6 layout="default"]
[panel panel-style="solid-header" color="primary-dark" title="Board%20Committees" css-code=".shortpoint-panel-title%7Bmargin-top%3A10px%3B%7D" class="text" color-transparency="0.7" title-size="h3" border-style="none" css_code_compiled=".dynamic-unique-shortpoint-class-name%20.shortpoint-panel-title%7B%0A%20%20%20%20margin-top%3A10px%3B%0A%7D"]The composition of the Board and its exercise of power is arranged such that it achieves independent judgment, assist with the balance of power and effectively discharge of its duties in line with King IV. In this regard, the PIC Board has delegated roles and responsibilities to seven Board committees. These Board subcommittees are: the Audit Committee (AC), the Risk Committee (RC), the Social, Ethics and Transformation Committee (SETC), the Investment Committee (IC), the Human Resources and Remuneration Committee (HRRC), the Directors' Affairs Committee (DAC), and the Information, Communication and Technology Governance Committee (ICTGC). The Board has also established three Fund Investment Panels (FIPs) as sub-committees of the Investment Committee, to assist the Board in discharging its statutory duties and responsibilities in relation to investments in South Africa, offshore and in the rest of the African continent. The Board recognises that, notwithstanding the delegated duties and responsibilities to its subcommittees, it remains the ultimate accountable authority.[/panel] 
[/column] 
[/row] 
[row layout="default"]
[column 12 layout="default"]
[panel panel-style="solid-header" color="primary-dark" color-transparency="0.7" width="100%25" title-size="h6" border-style="none"]
GOVERNANCE AT THE PIC
[divider style="solid" /] 
[icons-list color="primary-dark" icon-size="2" separator="none"]
[icon-list-item shortpoint_connection="%7B%22id%22%3A%22sharePointList%22%2C%22data%22%3A%7B%22siteCollection%22%3A%22%2F%22%2C%22source%22%3A%22Document%20Board%20of%20Directors%22%2C%22view%22%3A%22All%20Documents%22%2C%22itemsLimit%22%3A0%2C%22itemsQueryViewFieldsTypes%22%3A%7B%22DocIcon%22%3A%7B%22fieldType%22%3A12%2C%22typeAsString%22%3A%22Computed%22%7D%2C%22LinkFilename%22%3A%7B%22fieldType%22%3A12%2C%22typeAsString%22%3A%22Computed%22%7D%2C%22Title%22%3A%7B%22fieldType%22%3A2%2C%22typeAsString%22%3A%22Text%22%7D%2C%22Publishdate%22%3A%7B%22fieldType%22%3A4%2C%22typeAsString%22%3A%22DateTime%22%7D%2C%22Pubcat%22%3A%7B%22fieldType%22%3A7%2C%22typeAsString%22%3A%22Lookup%22%7D%2C%22Expirydate%22%3A%7B%22fieldType%22%3A4%2C%22typeAsString%22%3A%22DateTime%22%7D%2C%22Year%22%3A%7B%22fieldType%22%3A6%2C%22typeAsString%22%3A%22Choice%22%7D%2C%22Sortseq%22%3A%7B%22fieldType%22%3A9%2C%22typeAsString%22%3A%22Number%22%7D%2C%22FileSizeDisplay%22%3A%7B%22fieldType%22%3A12%2C%22typeAsString%22%3A%22Computed%22%7D%2C%22CheckoutUser%22%3A%7B%22fieldType%22%3A20%2C%22typeAsString%22%3A%22User%22%7D%2C%22_ModerationStatus%22%3A%7B%22fieldType%22%3A23%2C%22typeAsString%22%3A%22ModStat%22%7D%2C%22Coverpageimage%22%3A%7B%22fieldType%22%3A11%2C%22typeAsString%22%3A%22URL%22%7D%2C%22Synopsys%22%3A%7B%22fieldType%22%3A3%2C%22typeAsString%22%3A%22Note%22%7D%7D%2C%22itemsQueryExtraFields%22%3A%5B%22FileRef%22%2C%22BaseName%22%5D%2C%22listInfo%22%3A%7B%22isDocumentLibrary%22%3Atrue%2C%22isDiscussionList%22%3Afalse%2C%22isPublishingPages%22%3Afalse%2C%22isExternalList%22%3Afalse%2C%22defaultDisplayFormUrl%22%3A%22%2FDocDirectors%2FForms%2FDispForm.aspx%22%7D%2C%22queryText%22%3A%22%3CView%20Scope%3D'RecursiveAll'%3E%3CQuery%3E%3COrderBy%3E%3CFieldRef%20Name%3D%5C%22FileLeafRef%5C%22%20%2F%3E%3C%2FOrderBy%3E%3C%2FQuery%3E%3CRowLimit%3E30%3C%2FRowLimit%3E%3C%2FView%3E%22%7D%2C%22caching%22%3Anull%7D" title="%23Title" icon="file-pdf-o" link="%23FileRef" /] 
[/icons-list] 
[/panel] 
[/column] 
[/row] 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Dr%20Reuel%20Khoza" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Dr Reuel Khoza  

Positions

  • Chairperson of the Board
  • Independent Non-Executive Director
  • Chairperson of the Directors’ Affairs Committee

 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Ntombifuthi%20Mtoba%20" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Sindi Mabaso-Koyana  

Positions

  • Deputy Chairperson of the Board
  • Independent Non-Executive Director
  • Chairperson of the Audit Committee (AC)

 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Irene%20Charnley" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Irene Charnley  

Positions

  • Independent Non-Executive Director
  • Chairperson of the Information Communication and Technology Governance Committee
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Dr%20Angelo%20David%20Sabelo%20de%20Bruyn" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Dr Angelo David Sabelo de Bruyn  

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Prof%20Bonke%20Dumisa" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Prof Bonke Dumisa  

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Bhekithemba%20Gamedze" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

 

Positions

  • Independent Non-Executive Director
  • Chairperson of the Investment Committee

 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Mugwena%20Maluleke" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

 

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Tshepiso%20Moahloli" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Tshepiso Moahloli  

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Pitsi%20Moloto" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Pitsi Moloto  

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Karabo%20Morule" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Karabo Morule  

Position

  • Independent Non-Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Advocate%20Makhubalo%20Ndaba" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Advocate Makhubalo Ndaba  

Positions

  • Independent Non-Executive Director
  • Chairperson of the Human Resources and Remuneration Committee

 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Maria%20Ramos" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Maria Ramos  

Positions

  • Independent Non-Executive Director
  • Chairperson of the Risk Committee

 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Barbara%20Watson%20" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

 

Positions

  • Independent Non-Executive Director
  • Chairperson of the Social, Ethics and Transformation Committee (SETC)

 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Abel%20Sithole" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Abel Sithole  

Positions

  • Chief Executive Officer
  • Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Brian%20Mavuka%20CA%20(SA)" height="500px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Brian Mavuka CA (SA)  

Positions

  • Acting Chief Financial Officer and General Manager: Finance
  • Executive Director
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4][/column] 
[column 4][/column] 
[column 4][/column] 
[/row] 
[row layout="default"]
[column 4][/column] 
[column 4][/column] 
[column 4][/column] 
[/row] 
 
[/tab] 
[tab title="Executive%20Committee"]
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Abel%20Sithole" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Abel Sithole  

Positions

  • Chief Executive Officer
  • Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Brian%20Mavuka%20CA%20(SA)" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Brian Mavuka CA (SA)  

Positions

  • Acting Chief Financial Officer and General Manager: Finance
  • Executive Director
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Nkosinathi%20Buthelezi" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Nkosinathi Buthelezi  

Position

  • Executive Head Risk and Management
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Lindiwe%20Dlamini" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Sholto Dolamo  

Position

  • Acting Executive Head Legal Counsel
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Sholto%20Dolamo" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Sholto Dolamo  

Positions

  • Acting Chief Investment Officer
  • Executive Head Research and Projects Development
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Vuyani%20Hako" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Vuyani Hako  

Position

  • Chief Operating Officer
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Horatius%20Maluleka" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Horatius Maluleka  

Position

  • Acting Executive Head Listed Investments
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Dan%20Mabuza" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Dan Mabuza  

Position

  • Acting Executive Head Information Technology
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Chris%20Pholwane" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Chris Pholwane  

Position

  • Executive Head Human Resources
 
[/panel] 
[/column] 
[/row] 

 
[row layout="default"]
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Mr%20Roy%20Rajdhar" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Mr Roy Rajdhar  

Positions

  • Executive Head Impact Investing
  • Acting Executive Head Private Equity & SIPS
 
[/panel] 
[/column] 
[column 4]
[panel panel-style="solid-header" color="primary-dark" title="Ms%20Rubeena%20Solomon" height="480px" panel-background-color="border-light" color-transparency="0.7" title-size="h3" border-style="none"]

Ms Rubeena Solomon  

Position

  • Executive Head Investment Management - ESG and PMV
 
[/panel] 
[/column] 
[column 4][/column] 
[/row] 
 
 
[/tab] 
[/tabs]