Molefe appointed new Transnet CEO

Former Public Investment Corporation (PIC) CEO Brian Molefe will take over as Transnet’s new boss, Minister of Public Enterprise Malusi Gigaba announced on Wednesday.

Gigaba said the appointment will strengthen the leadership at the state-owned entity, which has been without a CEO for more than 20 months.

His understanding of capital markets and asset management will be invaluable as the company moves forward with its massive infrastructure development programme,” said Gigaba.

Molefe resigned as CEO of the PIC in March last year after a seven-year stint at the state-owned investment arm, the largest financial management company in the country, responsible for the management of about R850-billion.—Sapa