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Cape Town - The Public investment Corporation (PIC) is seeking to work with Mozambican state shares-management agency Igepe to explore various investment opportunities.
The PIC, together wth SacOil, signed an expression of interest with Igepe to do business in Mozambique, according to a statement.
It has been agreed to set up working teams with the intention of exploring in more detail various opportunities.
“The signing of this expression of interest is a historical event as this will be the first time that the two counterparts (Igepe and PIC) will be collaborating regarding the huge investment potential in Mozambique, South Africa and the region," said Igepe chairperson Dr. Apolinário Panguene.
Igepe is responsible for investing and managing the government’s equity shares and participation in major industries and sectors of the economy.
The PIC manages the pension funds of civil servants and is the biggest money manager in Africa.
SacOil is an independent African oil and gas company and is listed in Johanesburg and London.
In January, PIC strengthened its stake in supermarket retailer the Spar Group [JSE:SPP], holding 20 086% of the total issued ordinary share capital of the company.
Most recently, it blocked a bid by Chile's CFR Pharmaceuticals to take over drug from Adcock Ingram [JSE:AIP].
Together with Bidvest, it helped to oust Adcock chairperson Khotso Mokhele.
The PIC also thew a $270m lifeline to US oil firm Camac Energy, who later announced plans to list in Johannesburg.
- Fin24
The PIC, together wth SacOil, signed an expression of interest with Igepe to do business in Mozambique, according to a statement.
It has been agreed to set up working teams with the intention of exploring in more detail various opportunities.
“The signing of this expression of interest is a historical event as this will be the first time that the two counterparts (Igepe and PIC) will be collaborating regarding the huge investment potential in Mozambique, South Africa and the region," said Igepe chairperson Dr. Apolinário Panguene.
Igepe is responsible for investing and managing the government’s equity shares and participation in major industries and sectors of the economy.
The PIC manages the pension funds of civil servants and is the biggest money manager in Africa.
SacOil is an independent African oil and gas company and is listed in Johanesburg and London.
In January, PIC strengthened its stake in supermarket retailer the Spar Group [JSE:SPP], holding 20 086% of the total issued ordinary share capital of the company.
Most recently, it blocked a bid by Chile's CFR Pharmaceuticals to take over drug from Adcock Ingram [JSE:AIP].
Together with Bidvest, it helped to oust Adcock chairperson Khotso Mokhele.
The PIC also thew a $270m lifeline to US oil firm Camac Energy, who later announced plans to list in Johannesburg.
- Fin24
