Leadership Abroad: Gwede Mantashe Acts as President<\/a><\/p>\n\n\n\nA Proven Leader in Development Finance<\/h3>\n\n\n\n
Patrick Dlamini brings with him a wealth of experience. Most notably from his role as CEO of the Development Bank of Southern Africa (DBSA), where he served for more than a decade. Under his leadership, the DBSA played a key role in advancing developmental infrastructure across the continent.<\/p>\n\n\n\n
He holds a Master of Science in Global Finance from New York University\u2019s Stern School of Business and the Hong Kong University of Science and Technology. His academic credentials are further bolstered by a Bachelor of Commerce in Accounting and Economics from the University of KwaZulu-Natal (formerly Durban-Westville). He also has executive training from prestigious institutions, including Wits University, the Kellogg School of Management, and Queen\u2019s University in Canada.<\/p>\n\n\n\n
Cabinet\u2019s Endorsement and Board Confidence<\/h3>\n\n\n\n
Minister in the Presidency, Khumbudzo Ntshavheni, announced the Cabinet\u2019s approval. This marks a significant moment for the PIC. The PIC manages more than R3 trillion in assets on behalf of various state entities. This includes the Government Employees Pension Fund (GEPF).<\/p>\n\n\n\n
PIC Board Chairperson and Deputy Finance Minister, Dr David Masondo, praised Dlamini as a \u201cturnaround specialist\u201d. He has a strong track record of ethical leadership and operational excellence. \u201cMr Patrick Dlamini brings to the PIC an exemplary record of strategic and ethical leadership. With nearly three decades of experience in major corporations. His expertise are in leading complex turnarounds, fostering operational excellence, and driving sustainable growth positions him to advance the PIC\u2019s investment mandate,\u201d said Masondo.<\/p>\n\n\n\n
Challenges Ahead: Unlisted Portfolio and Governance<\/h3>\n\n\n\n
Dlamini assumes leadership at a pivotal moment for the PIC, particularly as it navigates challenges in its unlisted investment portfolio. One of the most pressing issues is the crisis at Daybreak Farms. A PIC-funded entity that recently struggled with financial constraints severe enough to affect salary payments and animal feed supply.<\/p>\n\n\n\n
Masondo noted that Dlamini is expected to strengthen internal governance structures and reinforce ethical practices across the organisation. \u201cHis principled commitment to corporate governance will strengthen our response to embed ethics, accountability, and integrity across all PIC business functions. It will also drive long-term growth and value in the investment portfolios of our clients,\u201d he added.<\/p>\n\n\n\n
Tribute to Abel Sithole\u2019s Legacy<\/h3>\n\n\n\n
The board also extended its deep appreciation to the outgoing CEO, Abel Sithole. During his term, he stabilised and reformed the PIC in the wake of governance failures exposed by the Mpati Commission of Inquiry. Appointed during a turbulent time, Sithole played a key role in rebuilding trust with stakeholders and regulators, implementing the commission\u2019s recommendations, and professionalising executive appointments.<\/p>\n\n\n\n
Under Sithole\u2019s leadership, the PIC reached a historic milestone when its assets under management surpassed R3 trillion by September 2024. \u201cMr Sithole ensured that governance structures were reconfigured and strengthened, bringing a sense of stability, ethical leadership, and accountability to the organisation,\u201d said Masondo.<\/p>\n\n\n\n
Sithole has committed to supporting a seamless leadership transition, and he continues to enjoy the full support of the PIC board.<\/p>\n\n\n\n
As Africa\u2019s largest asset manager, the PIC plays a critical role<\/a> in the financial ecosystem and the development of South Africa. With Patrick Dlamini at the helm, expectations are high for strategic continuity, improved governance, and sustainable growth. His blend of technical expertise, developmental insight, and commitment to ethical leadership positions him well to meet the challenges ahead.<\/p>\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Former DBSA Chief Brings Decades of Leadership Experience to Africa\u2019s Largest Asset Manager The Public Investment Corporation (PIC), one of Africa\u2019s most influential asset managers, has confirmed the appointment of Patrick Dlamini as its new Chief Executive Officer. The appointment, effective from 1 June 2025, was officially approved by Cabinet during its meeting on 14<\/p>\n","protected":false},"author":23,"featured_media":6417,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_focus_keyword":"","rank_math_title":"","rank_math_description":"Former DBSA Chief Brings Decades of Leadership Experience to Africa\u2019s Largest Asset Manager The Public Investment Corporation (PIC), one of Africa\u2019s most...","footnotes":""},"categories":[47],"tags":[],"class_list":{"0":"post-6411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"_links":{"self":[{"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/posts\/6411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/comments?post=6411"}],"version-history":[{"count":3,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/posts\/6411\/revisions"}],"predecessor-version":[{"id":6420,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/posts\/6411\/revisions\/6420"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/media\/6417"}],"wp:attachment":[{"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/media?parent=6411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/categories?post=6411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gauteng.net\/whats-on-g\/wp-json\/wp\/v2\/tags?post=6411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}