Moneyweb reports that the Public Investment Corporation (PIC) has announced the permanent appointment of Batandwa Damoyi as its new chief financial officer (CFO).

She is succeeding Brian Mavuka, who served as the acting CFO since 2021 when the PIC terminated Matshepo More’s contract following a disciplinary hearing regarding her involvement in irregularities related to the PIC’s R4.3 billion investment in Ayo Technology Solutions. However, in 2022 the CCMA ruled in favour of More, ordering her reinstatement to her former position. A statement released by the corporation on 3 April 2024 noted that Damoyi is a chartered accountant with over 16 years of experience in corporate finance. She also completed a strategic leadership programme at the Gordon Institute of Business Science. Between 2012 and 2019 she was the executive director and CFO of the state-owned African Exploration Mining and Finance Corporation as well as BAIC Automotive SA. She founded Libana Consulting in 2019. PIC CEO Abel Sithole welcomed Damoyi’s appointment, saying the PIC must build upon its track record of unqualified audit reports, robust internal controls, and prudent investments.

• Read the full original of the report in the above regard by Terri-Ann Brouwers at Moneyweb

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