Abel Moffat appointed as the new CEO of Public Investment Corporation

SOUTH AFRICA – South Africa has appointed Mr Abel Moffat Sithole as the new chief executive of state-owned asset manager the Public Investment Corporation (PIC), the country’s finance ministry said in a statement.   PIC is the largest asset manager in Africa with more than 2 trillion rand (US$114.91 billion) of assets. It owns more than a tenth of the companies listed on the Johannesburg Stock Exchange (JSE).   “Cabinet has approved that the Board of Directors of the PIC proceeds with the appointment of Mr Abel Moffat Sithole as the CEO…

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