South Africa. GEPF signs new unlisted Africa investment mandate with PIC
The Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) have signed a new mandate related to unlisted developmental investments in Africa.
The PIC confirmed the new mandate in a short statement on Tuesday, but did not reveal the value of the deal. However, Bloomberg reported that the agreement is worth around $1.6 billion (just over R25 billion
If this figure is correct, then it is much lower than the GEPF’s previous unlisted developmental investment mandate with the PIC, which was valued at around R70 billion.
Tuesday’s confirmation from the PIC comes after its previous mandate with the GEPF lapsed more than a year ago, with negotiations around the new mandate taking place since March last year.
The developmental investment mandate focus is on South Africa and the rest of Africa, according to the PIC.
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