PIC board asks to resign


JOHANNESBURG, February 1- The board of the Public Investment Corporation on Friday resolved to ask Finance Minister Tito Mboweni to be released of their duties, the head of corporate affairs of the investment manager said.

In a letter to Mboweni, the board cited the destabilising impact of “events in the recent past”, including allegations of impropriety levelled against at least four directors, as the reason.

It said members were committed to serving as directors until the minister appointed a new board.
“We hope this will be done on an urgent basis”