The Public Investment Corporation (PIC) and its Chief
Investment Officer, Mr Kabelo Rikhotso, earlier this week reached a mutual agreement
to terminate their employment relationship on an amicable basis.
A joint statement released on Sunday said: “Mr Rikhotso is grateful for his tenure at the PIC and the PIC acknowledges Mr Rikhotso’s service to the organisation.”
Whistleblower report
Rikhotso, who joined the PIC in May 2022, had been on precautionary suspension since October 2025, following allegations of misconduct raised through a whistleblower report.
At the time of placing Rikhotso on suspension, the PIC had said the suspension did not constitute a finding of wrongdoing, saying it was “done in accordance with applicable labour legislation and internal PIC policies to facilitate a fair and independent investigation”.
Earlier on February 11, the PIC had issued a statement welcoming an interim
order by the Johannesburg High Court against Mr Ralebala Matome Mampeule, a director of
Levoca 805 (Levoca), a company that was funded by the PIC in 2024.
“The High Court has restrained Mr Mampeule from making, publishing or repeating ‘any
defamatory, injurious allegations of corruption, extortion, bribery’ or any other statements that suggest that certain PIC officials are implicated in criminal investigations for corruption, bribery and extortion,” read the statement at the time.
“The PIC will continue to pursue final interdictory relief to affirm that there was no proof
to support allegations advanced by Mr Mampeule, who initiated a sinister public campaign against Mr Rikhotso and Ms Lindiwe Dlamini, the PIC’s Head of Investment Legal.”
