Today's Labour News

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picBL Premium reports that in a bid to improve and modernise its operations, the Public Investment Corporation (PIC) on Monday announced the appointment of Makano Mosidi as the asset manager’s chief technology officer.

Her appointment is to one of the new posts announced a year ago as the PIC moved to strengthen corporate governance and accountability at the company. The other posts it created were that of chief risk officer and COO. The PIC is a government owned asset management firm, managing trillions of rand in assets on behalf of its clients, who are mostly public sector entities such as the Government Employees Pension Fund (GEPF), Unemployment Insurance Fund (UIF), Compensation Fund, Compensation Commissioner Pension Fund and Associated Institutions Pension Fund. A 2018 commission of inquiry into the operations of the PIC found that the organisation had been bedevilled by impropriety, conflict of interest, poor investment decisions and a divided board, among a long list of wrongs. As the PIC’s first chief technology officer, Mosidi returns to the public sector for the first time since she resigned from Transnet. She holds a business degree in financial accounting and computer science and has more than 20 years’ experience as an IT executive, including in government and banking.

  • Read the full original of the report in the above regard by Erin Bates at BusinessLive (paywall access only)

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