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Public Investment

Public Investment Corporation (PIC) is a South African state-owned asset manager that manages public-sector pension funds and other government investments. The corporation is headquartered in Pretoria and operates as Africa's largest asset manager by assets under management. PIC primarily manages funds on behalf of the Government Employees Pension Fund (GEPF), which accounts for the majority of its portfolio, alongside other public entities. The corporation invests across multiple asset classes including listed equities, bonds, property and unlisted investments, with a mandate to generate sustainable returns for beneficiaries. PIC plays a significant role in South Africa's capital markets and economic development, often taking strategic stakes in major companies and infrastructure projects. The corporation's investment decisions carry substantial weight in the domestic market given the scale of its assets. PIC operates under governance frameworks set by the Financial Sector Conduct Authority and reports to the Minister of Finance. The corporation was established in 1911 as the Public Debt Commissioners and was reconstituted as the Public Investment Corporation in its current form in 2005.

Public Investment Updates


Finance Minister Enoch Godongwana
Treasury to start deducting money owed to municipalities by provincial and national departments
22nd May 2026 By: Terence Creamer

The National Treasury has taken a decision to deduct monetary amounts owed to municipalities by national and provincial government departments to settle outstanding debts, Finance Minister Enoch... 


Balwin founder and CEO Steve Brookes
PIC, Balwin founders launch bid to take the property developer private
20th May 2026 By: Creamer Media Reporter

A consortium comprising the Public Investment Corporation (PIC) and founder investors of JSE-listed Balwin Properties, has made a firm offer to acquire all shares in the specialist large-scale... 


Proposed Gauteng green-methanol-from-wastewater plant gets $4m funding support
19th May 2026 By: Schalk Burger

Emerging market blended finance investment manager Climate Investor Three has, through its affiliate SA-H2 Fund Managers, signed a $4-million development funding agreement with project developer... 


An image of Grant Mitchell
Junior mining, exploration critical to industry longevity
15th May 2026 By: Trent Roebeck

The junior mining and exploration sectors in South Africa provide a way forward to expand the country’s critical minerals discovery and producing capability, with various funding programmes to... 


A PPC cement plant
Heidelberg weighs bid to acquire South African cement firm PPC
5th May 2026 By: Bloomberg

Heidelberg Materials is in talks with banks to appoint financial advisers as it considers a bid for top South African cement maker PPC, according to people familiar with the matter. The German... 


PIC’s Masondo undertakes strategic oversight visit to Waterfall City
PIC’s Masondo undertakes strategic oversight visit to Waterfall City
8th April 2026 By: Sabrina Jardim

Public Investment Corporation (PIC) chairperson Dr David Masondo visited Waterfall City, one of South Africa’s leading mixed-use developments, describing it as a powerful post-1994 example of... 


An image of a Transnet train
Outdated finance frameworks, legislative asymmetry stalling rail reform
6th March 2026 By: Nadine Ramdass

Despite progress in South Africa’s rail reform policy and regulation, outdated financial frameworks and unresolved structural legislative imbalances hamper rail infrastructure development in South... 


Local consortium acquires agricultural inputs company Zaad for R1.4bn
4th February 2026 By: Schalk Burger

Agricultural inputs company Zaad Group has been acquired by a consortium of South African private and public investment companies for R1.4-billion, which will support its next phase of growth and... 


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