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South Africa Urges PIC to Invest in Social Development Projects
JOHANNESBURG (Capital Markets in Africa) – The Public Investment Corporation, which manages South African state-worker pensions, should consider investing a portion of its 1.93 trillion rand ($143 billion) in assets into projects that will boost job creation and support people on lower incomes, a parliamentary committee said. That shouldn’t include providing funds for ailing and mis-managed state-owned companies that won’t deliver a return on investment, the standing committee on finance said in an emailed statement…
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