Finance Minister Tito Mboweni says politicians should not have been appointed to the Public Investment Corporation (PIC) board of directors.
Mboweni was speaking to the media in Pretoria to introduce the interim board of the embattled asset management company.
The new PIC board of directors has elected Reuel Khoza as Chairperson and Sindi Mabaso-Koyana as his deputy.
Mboweni has welcomed cabinet’s decision to do away with a long tradition of appointing a deputy minister of finance to the position of the PIC chair.
“There’s nothing in the law that says that the Deputy minister of finance must be the chairman of the PIC board of directors. In my view that was bad practice. Why only at PIC…… so a lot of negotiation will still have to happen.”