PIC has not ruled out investing in SAA
Dan Matjila says the PIC is not closing the door to investment in national airline SAA, but that it needs good governance and a turn-around strategy.
CAPE TOWN - South Africa's Public Investment Corporation (PIC), one of the continent's largest asset managers, has not ruled out investing in struggling state-owned airline South African Airway s (SAA), its chief executive said on Tuesday.
"We are not closing the door on SAA," CEO Dan Matjila told Parliament's Finance Committee, adding that SAA would first need to improve governance and implement a turn-around strategy before being considered.
The PIC manages South African government employee retirement funds and has been in the spotlight recently after reports the Finance Ministry requested money from the pension fund to bail out struggling state firms.