The Public Investment Corporation of South Africa views private credit as a vital growth sector in Africa, directing investments away from equities and private equity toward credit options. With significant funds already invested, the PIC aims to leverage partnerships to fund critical infrastructure development across the continent.
South Africa’s Public Investment Corporation (PIC), the nation’s largest asset manager, recognizes significant growth potential in private credit across Africa. As it seeks to expand beyond its domestic market, the PIC has allocated approximately 8 billion rand (about $430 million) to African investments in the past two years, according to Chief Investment Officer Kabelo Rikhotso during a conference in Cape Town.
In summary, the PIC is strategically investing in private credit as a means to diversify its portfolio and support essential infrastructure projects throughout Africa. This shift emphasizes a growing interest in private markets, promoting partnerships to navigate the continent’s unique challenges while aiming for substantial developmental impact in areas lagging in infrastructure.
Original Source: financialpost.com
