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The Public Investment Corporation (PIC), which manages about R2.3-trillion in government employees’ pension savings, will invest $100m in the Africa Finance Corporation (AFC), a multilateral financier of infrastructure investment on the continent.

The AFC said in a statement on Tuesday the PIC has given formal notification to make its inaugural investment in the institution, which it sees as a significant commitment of African pension capital being deployed for the continent’s infrastructure and industrial development...

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