New man at the helm of over R3 trillion in South African pension funds

• Deputy Planning, Monitoring and Evaluation Minister Seiso Mohai has been appointed as the new chairman of the Public Investment Corp., overseeing R3.6 trillion in South African pension funds.
• The appointment comes amid governance scandals and management turbulence at the PIC, with the new chairman tasked with restoring stability to the fund.
• The PIC's significant minority stakes in major South African companies, including Naspers Ltd. and Standard Bank Group Ltd., will be managed by Mohai, who has experience in financial management and governance.