Public Investment Corporation SOC Ltd (PIC)
Public Entity · Finance and Administration Services · reports to National Treasury
The Public Investment Corporation is a state-owned asset manager that invests funds on behalf of public sector clients. It operates under the Public Investment Corporation Act, 2004 (Act No. 23 of 2004), and is wholly owned by government with the Minister of Finance as shareholder representative.
Its largest client by far is the Government Employees Pension Fund, and it also manages money for the Unemployment Insurance Fund, the Compensation Fund and other public bodies. The assets under its management make it the largest asset manager in Africa and a significant shareholder across the Johannesburg Stock Exchange.
It invests in listed equities, bonds, property, and unlisted and developmental investments including infrastructure and impact investing. A judicial commission of inquiry into its governance and certain unlisted investments reported in 2020, and its recommendations informed subsequent governance reforms.
Audit record, 5 years
Financial highlights, 2024/25
- Total Revenue
- R1.6bn
- Total Expenditure
- −R1.1bn
- Total Assets
- R4.9bn
- Total Liabilities
- R520m
Values in rand. Sparklines run oldest to newest and are scaled to each series, not to zero.
Leadership, 15 listed
- Deputy Chairperson
- Dr Mugwena Maluleke
- Board Members
- Mr Stephen Boikanyo Mr Mugwena Maluleke Ms Lindiwe Motshewane Mr Matimba Justice Shiburi
- Chief Executive Officer
- Ms Batandwa Damoyi Mr Patrick Dlamini
- Chief Financial Officer
- Ms Batandwa Damoyi
- Chief Operations Officer
- Mrs Rubeena Solomon
- Senior Management
- Mr Deon Botha Mr Tonderai Manyumwa Ms Bongani Mathebula Ms Makano Mosidi Ms Nomzamo Petje Mr August van Heerden
Description written for this directory from the entity’s own published sources: www.pic.gov.za, www.gov.za