Africa’s biggest money manager suspended its chief investment officer Kabelo Rikhotso with immediate effect after claims of misconduct were made against him in whistleblower report.
The precautionary measure “is intended to ensure a fair, objective and independent investigation into these allegations,” South Africa’s Public Investment Corporation said in a statement, adding that the move doesn’t constitute a finding or pronouncement of wrongdoing on Rikhotso’s part. It didn’t provide details on the claims. Rikhotso declined to comment when contacted by Bloomberg News.
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Literacy Rate: The country has made significant progress in improving literacy
rates since the end of apartheid, with a current rate of approximately 94%.
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South Africa: You have two cows. The one with more white patches has more privileges.
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Fun South African Fact: South Africa is known as the “Rainbow Nation” thanks to its mix of cultures across the country. The status of being a cultural “melting pot” is evident in the fact that South Africa has a whopping 11 official languages: English, Afrikaans, isiZulu, isiXhosa, IsiNdebele, Sesotho, Northern Sotho, Setswana, SiSwati, Tshivenda, Xitsonga. Most South Africans speak more than one national language. IsiZulu is the most common first language and isiXhosa is second. Fun fact – did you know the people of Wakanda speak isiXhosa in Marvel’s Black Panther movie?