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Assessing and promoting civil and minority rights in South Africa.

[Source: Financial Times by Joseph Cotterill.]

South Africa’s finance minister has ordered a probe into claims of irregularities at the state-owned pension fund manager following allegations that political pressure was exerted to use its funds to bail out state-owned companies.

Malusi Gigaba said on Friday that he was concerned about the “politicising” of the Public Investment Corporation, which manages R1.9tn ($140bn) of assets on behalf of government employees.

Mr Gigaba also demanded that Dan Matjila, the PIC’s chief executive, and its board provide a list of all the investments made by Africa’s biggest asset manager.

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South Africa at a Glance
56 500 000 (mid 2017 estimate)
4.6% y/y in November 2017 (CPI) & +5.1% y/y in November 2017 (PPI)
2% q/q for the 3rd quarter of 2017
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