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Treasury reveals: PIC invests R13bn in struggling Afrisam

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Deputy Finance Minister Mcebisi Jonas.
Deputy Finance Minister Mcebisi Jonas.

Cape Town – The Public Investment Corporation (PIC) holds a R13bn investment in the struggling cement manufacturer Afrisam. 

In a detailed list of its investments in unlisted companies provided to Parliament’s Standing Committee on Finance, the PIC disclosed that it has a 65.99% interest in the Afrisam Group. 

The PIC invests R44.6bn in unlisted companies through its Isibaya Fund, established in 1999, in projects that have a developmental mandate. 

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