Stephen Cranston Associate editor

Former Liberty CEO Thabo Dloti has kept a respectful silence since he left two-and-a-half years ago. No dirty linen was washed when he was replaced by David Munro, an insider at parent Standard Bank. Liberty chair Jacko Maree was a model of tact.

This contrasts with the drama around his old friend, Old Mutual CEO Peter Moyo. “I was part of Old Mutual for 22 years, says Dloti, “and worked closely with Peter: he was on the Liberty board when I was CEO. Everybody knew about his relationship with Amabubesi (later NMT Capital). Co-investing in the company was seen as part of the group’s BEE strategy. So I don’t know what changed.”

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