Publications
Partners
Johannesburg - Cabinet approved the appointment of Dr Daniel Mmushi Matjila as the CEO and executive director of the Public Investment Corporation (PIC) for five years from December 1 2014 until November 30 2019.
Cabinet also approved the reappointment of Murray Michell as director of the Financial Intelligence Centre (FIC) for two years, effective from January 1 2015 to December 31 2016.
The PIC and the FIC are among fifteen entities that report to the ministry of finance through governance arrangements that give them autonomy, but also enable them to align their strategies with government policy.
“The FIC and the PIC are very important institutions in our country. The FIC’s mandate is to protect the integrity of South Africa’s financial system by ensuring it is safe from abuse by criminals," said Finance Minister Nhlanhla Nene.
"The PIC, on the other hand, manages funds on behalf of a number of state-related institutions, the largest being the Government Employee Pension Fund (GEPF), a responsibility the PIC has carried out well so far.”
Nene described Matjila as strategic thinker who has extensive knowledge of and experience in asset management and investment. He had also displayed strong management as well as leadership skills and abilities.
Matjila joined the PIC in August 2003 and has been chief investment officer since 2005.
The previous CEO of the PIC resigned on in May 2014. Matshepo More, the chief financial officer (CFO) has been acting as CEO.
Among FIC’s responsibilities are assisting in the identification of the proceeds of unlawful activities and combating money laundering activities.
The FIC Act also imposes certain duties on institutions and other persons who might be involved in money laundering and the financing of terrorist and other related activities.
