for subscribers

PIC must reestablish its admirable record, says Sithole - but that may be the least of his worries

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
Abel Sithole
Abel Sithole

Perform above clients' expectations, have tighter controls on investment decision approvals and get back to the auditor-general's good books by earning unqualified audits. That's how the new Public Investment Corporation (PIC) CEO Abel Sithole plans to restore the credibility of the state-owned asset manager that was left in tatters over investments it made under Dan Matjila's watch.

The PIC's latest integrated report, which was tabled in Parliament on Thursday, sets a strong tone that the asset manager wants to put not only the decisions but also corporate culture of Matjila's era behind it.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.39
(+0.84)
ZAR/GBP
21.34
(+0.49)
ZAR/EUR
18.28
(+0.61)
ZAR/AUD
11.81
(+0.58)
ZAR/JPY
0.14
(+0.71)
Gold
1697.67
(+0.77)
Silver
25.53
(+1.41)
Platinum
1157.84
(+1.84)
Brent Crude
68.09
(-1.61)
Palladium
2314.01
(+0.47)
All Share
68097.89
(-0.48)
Top 40
62561.02
(-0.56)
Financial 15
12816.30
(+0.54)
Industrial 25
86620.07
(-0.62)
Resource 10
71160.39
(-0.86)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1077 votes
No, I did not.
52% - 2707 votes
My landlord refused
28% - 1467 votes
Vote