When Abel Sithole, the new head of the Public Investment Corp (PIC), sat down for the first time at the CEO’s desk on Monday, he’d have known he couldn’t waste any time if he planned to fix the organisation’s morale.

Sithole has to salvage an organisation plagued by scandal during the era of his predecessor, Dan Matjila. He also has to address revelations which emerged during a year-long commission of inquiry into claims of impropriety at the asset manager...

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