CAPE TOWN – South Africa’s Public Investment Corporation (PIC) would invest 70 billion rand ($5 billion) over the next three to five years to help stimulate economic growth and job creation, deputy finance minister Mcebisi Jonas said on Wednesday.
The PIC, which manages South African government employee retirement funds and has more than 1.8 trillion rand under management, would invest in a range of sectors, including energy, mining and agriculture, Jonas told parliament.
($1 = 14.8235 rand)(Reuters)
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