PIC suspends COO over misconduct allegations

The Public Investment Corporation (PIC) has placed its Chief Operating Officer, Vuyani Hako on precautionary suspension after allegations of misconduct against him spiraled.

The company said it believes that the suspension of Hako is in the best interest of both the employee and the employer to ensure that an independent inquiry can proceed without any influence.

In a statement on Thursday morning, PIC also announced the resignation of its two senior officials. Its head of research and projects development, Sholto Dolamo, and the acting executive head of the developmental investments and private equity, Lusanda Kali.

The duo tendered their resignation with effect from 30 June 2022.

“We would like to assure all our stakeholders that these resignations and the suspension of our COO will not destabilise our ability to deliver on our investment mandate,” said PIC.

PIC stated that the recent appointment of Kabelo Rikhotso as CIO, combined with an established skills pool, will ensure that the PIC continues to deliver on its investment objectives.

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