The appointment of Lesetja Kganyago, for a second term as the Governor of the South African Reserve Bank, will provide much sought-after certainty at the central bank. The BBC welcomes it.
On the appointment of the interim board of directors of the Public Investment Corporation (PIC), the BBC is of the view that, ultimately, the PIC needs a permanent leadership that will steer the organisation forward. We wish the interim board in its entirety, much success. The PIC is an important state-owned entity with R2.083 trillion of assets under management (as of 31 March 2018). It is Africa's largest asset manager.
The PIC remains the hope for the marginalised black business people who were historically excluded from participating in the mainstream economy. In the overall scheme of things, the PIC has been of great value to black business. It should be given space to continue doing so, both through unlisted, private equity investments and through funding black business to acquire significant interests in listed equities.
Issued by BBC