×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Almost 30% of the Public Investment Corporation’s (PIC’s) unlisted investments are underperforming financially and about 60% are described by the PIC itself as "ESG laggards". ESG refers to environmental, social and governance. Details of the R67.9bn portfolio of unlisted investments were made available on the PIC’s website on Tuesday afternoon following a hearing before the standing committee on finance earlier in the day. Among the investments that are underperforming are Lancaster 101, the empowerment consortium set up to acquire a stake in Steinhoff International; AfriSam, the cement producer in merger talks with PPC; poultry producer Daybreak Farms; and Independent Media, which owns The Star and Cape Times. In response to questions about Independent Media from the DA’s David Maynier, the PIC’s CEO, Dan Matjila, said it had begun work on a strategy to exit this investment, adding that it was a market-sensitive issue. However, PIC officials subsequently said Matjila was merely re...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now