The Public Investment Corporation (PIC) has announced the precautionary suspension its Chief Operating Officer, Vuyani Hako.

In a statement, the PIC said the precautionary suspension was as a result of allegations of misconduct made against Hako.

“The PIC believes that the suspension is in the best interest of both the employee and the employer to ensure that an independent inquiry can proceed unencumbered,” said the PIC.

Meanwhile, the PIC announced that its executive head for research and projects development, Sholto Dolamo, has tendered his resignation from the PIC, with effect from 30 June 2022.

Dolamo, who joined the PIC over 10 years ago, has served in several capacities and was, until recently, the acting Chief Investment Officer (CIO).

“Another resignation was that of Lusanda Kali, the acting executive head for developmental investments and private equity, which is effective as of 30 June 2022,” said the corporation.

“The PIC would like to express its gratitude to both Mr Dolamo and Ms Kali for their service and wish them all the best as they pursue new opportunities and challenges.”

The PIC assured all its stakeholders that the resignations and the suspension of its COO would not destabilise the PIC’s ability to deliver on its investment mandate.

“The recent appointment of Mr Kabelo Rikhotso as CIO, combined with an established skills pool, will ensure that the PIC continues to deliver on its investment objectives,” it said.

Source: South African Government News Agency