Firm liquidated by PIC over R1bn loan says it never defaulted
Public Investment Corporation’s failure to provide additional funding has left Musa Group in a less than ideal state, says CEO
02 March 2020 - 19:45
The private equity firm the Public Investment Corporation (PIC) successfully applied to liquidate after it failed to repay a disastrous loan of almost R1bn says it never defaulted.
The PIC, which oversees R2-trillion and has the Government Employees Pension Fund (GEPF) as its biggest client, lent R950m to the Musa Group in August 2015, a company founded by two Americans, Will Jimerson and Antoine Johnson, in 1995...
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