PIC intervention aims to strengthen governance & stability: Ramaphosa

• The government's intervention at the Public Investment Corporation (PIC) aims to strengthen governance and stability, according to President Cyril Ramaphosa.
• The PIC manages almost half of South Africa's GDP, R3.6 trillion, and the government has appointed Deputy Minister Seiso Mohai as the new chairperson of the PIC board.
• The move is seen as an effort to solidify stability and improve the PIC's performance, following concerns over governance challenges and the appointment of Mohai as chairperson has been met with criticism from the DA.