PIC appoints Batandwa Damoyi as new CFO

In a recent CNBC Africa interview, Batandwa Damoyi, the newly appointed Chief Financial Officer (CFO) of the Public Investment Corporation (PIC), Africa's largest state-run asset manager, shared insights into his first 100 days in the role and the strategic priorities he is focusing on to drive the organization forward. Damoyi highlighted the importance of maintaining financial health, operational excellence, and adherence to governance and regulatory requirements as key focus areas since assuming his position. He emphasized the significance of sustainable investments, diverse portfolio management, and impactful social development initiatives in achieving long-term economic growth and social progress. As part of PIC's commitment to transformation and empowerment, Damoyi outlined initiatives aimed at increasing investment opportunities for black-owned and controlled money managers, aligning with the organization's goal of fostering socio-economic development and positively impacting communities. Central to PIC's strategy is the integration of Environmental, Social, and Governance (ESG) principles to drive responsible investing practices and ensure alignment with best industry standards. The CFO underscored the importance of maintaining strong internal financial controls to sustain the organization's track record of unqualified audit reports and uphold good corporate governance practices. By prioritizing operational excellence and upholding ESG principles, PIC aims to not only deliver financial returns but also drive positive social change and contribute to sustainable development in South Africa. Damoyi's vision for PIC is anchored in a commitment to financial sustainability, ethical investing, and impactful social initiatives that resonate with the organization's mandate and its role in driving positive change in the region. As he steers PIC towards a path of growth and transformation, Damoyi's leadership is poised to shape the future trajectory of the organization and reinforce its position as a key player in the investment landscape.