Bloomberg News

PIC May Invest 10% of Assets Outside South Africa, Business Day Reports

March 02, 2012

South Africa’s Public Investment Corp. may invest as much as 10 percent of assets outside South Africa to diversify its investment portfolio, Business Day reported, citing Chief Executive Officer Elias Masilela.

It planned to invest close to 5 billion rand ($670 million) in Africa in the next financial year, the Johannesburg-based newspaper cited Masilela as saying. Investments will be made in private equity and development funding, including infrastructure and property in Egypt, Kenya and Nigeria, it said.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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