Bad week for PIC CEO Abel Sithole

The organisation’s attitude towards whistle-blowers is a sign of dubious priorities

A good week for Daniel Thulare

Judge Daniel Thulare of the Western Cape High Court has put a legal finger on suspicions that the wheels of justice in the province, while turning slowly, might in some cases not turn at all. He has highlighted some questionable events in the Cape Town magistrate’s court, where vital documents were being kept in a case he is hearing. The papers, which detail gang capture of senior police elements, were mysteriously destroyed. No wonder the DA has been calling for the local government to be able to appoint the provincial police commissioner.

Public Investment Corporation CEO Abel Sithole. Picture: FREDDY MAVUNDA
Public Investment Corporation CEO Abel Sithole. Picture: FREDDY MAVUNDA

A bad week for Abel Sithole

Abel Sithole, the CEO of the Public Investment Corp (PIC), clearly feels he needn’t account to the public for what is happening at Africa’s largest fund manager, even though he’s really just an asset manager for government employees.

Revelations this week that R57m has been spent by one of its invested companies, Daybreak Farms, trying to purge whistle-blowers, are alarming. And yet the PIC remains mum, even though it would seem state funds have been used to muzzle whistle-blowers. The PIC has been notoriously media shy for months, which does its clients — the pensioners whose money it’s actually managing — no favours.

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