PIC would consider investing in SAA — but only if it passes the test, says Dan Matjila
‘We are not closing the doors. Once you have implemented your turnaround strategy and improved governance … we can consider investing’
The Public Investment Corporation (PIC) would consider investing in state-owned enterprises such as South African Airways (SAA) if they met its investment criteria, CEO Dan Matjila told Parliament on Tuesday. Referring directly to SAA, he told Parliament’s standing committee on finance: "We are not closing the doors. Once you have implemented your turnaround strategy and improved governance … we can consider investing." The PIC manages investments on behalf of the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund, in addition to a number of smaller funds. Its total assets under management stood at R1.928-trillion at the end of March. Matjila said the PIC’s investment philosophy was based on two pillars, financial returns and sustainable investing.
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