South Africa’s Public Investment Corporation (PIC) becomes 36th shareholder of Africa50, with a US$40 million investment
Summary
The PICs investment is a testament to Africa50 groups ability to unlock new and deep pools of capital for transformative infrastructure across the region. The development reinforces Africa50s position as a pioneering infrastructure investor, asset manager and mobilizer of institutional capital.Alain Ebobiss\xe9, CEO of Africa50, said: "As Africas largest asset manager, the Public Investment Corporation of South Africas position as a shareholder sends a strong signal to the market about Africa50s ability to deliver value for investors and economies. Africa50s extensive presence and expertise across the continent provides PIC with a valuable opportunity to achieve both financial and developmental objectives in line with our client mandates. For more information, visit: www.africa50.com.The Public Investment Corporation SOC Limited (PIC) is an asset management firm wholly owned by the government of the Republic of South Africa, represented by the Minister of Finance. The PIC supports the United Nations Sustainable Development Goals and considers environmental, social and governance issues in all its investments.