Rob Rose Editor: Financial Mail

It’s somewhat ironic that the genesis of Sam Sithole’s new foray into activist investing lies in his ill-fated standoff with Leon Kirkinis at African Bank Investments (Abil), SA’s most dramatic corporate collapse in recent times. As part of his report into the bank’s collapse, advocate John Myburgh singled out Sithole, a former auditor at Deloitte, as one of the few people on Abil’s board to emerge with any credit. The story is that Sithole chaired Abil’s audit committee from 2011, but had become increasingly uncomfortable with CEO Kirkinis’s laissez-faire view of how much cash to set aside to cover for bad debt.

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