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PIC CEO: We wanted a Naspers for black people

May 10 2016 14:40
Liesl Peyper
Daniel Matjila,PIC

PIC CEO Daniel Matjila.

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Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - The Public Investment Corporation (PIC) decided to invest in Independent Media to give black people a chance to create a second Naspers [JSE:NPN], said the corporation’s CEO Daniel Matjila during a parliamentary briefing.

The Standing Committee on Finance requested the PIC, which manages among other things the Government Employees Pension Fund, to explain its investment mandate and rationale.

Read: PIC lost over R100bn when Zuma fired Nene - CEO



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