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In July 2021, South Africa's largest asset manager, the Public Investment Corporation (PIC) sued KPMG for 144 million rand (around US$9.5 million) it lost when the VBS Mutual Bank went bankrupt as a result of fraud. Its claim is centred on the rights issue and a revolving credit facility it participated in at VBS relying on financial statements ...
www.aeei.co.za. Sekunjalo Investment Holdings (parent company of African Equity Empowerment Investments) is a South Africa -based private equity firm specializing in acquisitions, PIPEs, and buyouts. It has principal operations in publishing, Internet, fishing, healthcare, pharmaceuticals, telecommunication, financial services, aquaculture ...
Website. pif.gov.sa. The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$ 925 billion (£ 726.3 billion). [ 2 ] It was created in 1971 for the purpose of investing funds ...
Sekunjalo Investments initially owned 55% of the company via its subsidiary Sekunjalo Independent Media, the Public Investment Corporation (PIC) owned 25%, and two Chinese state-owned enterprises (China International Television Corporation and the China Africa Development Fund) owned the remaining 20% of the newspaper. [7]
Both incidents concerned the Public Investment Corporation (PIC). First, in 2018, the Sunday Times reported that Mkhize appeared to have earned a R4.5 million kickback for facilitating a R210 million loan from the PIC to an oil company. [ 128 ]
State-owned enterprises play a significant role in the South African economy. In key sectors such as electricity, transport (air, rail, freight, and pipelines), and telecommunications, SOEs play a lead role, often defined by law, although limited competition is allowed in some sectors (i.e., telecommunications and air).
Telkom SA SOC Limited is a South African wireline and wireless telecommunications provider, operating in more than 38 countries across the African continent.Telkom is majority state-owned (55.3%) with the South African government owning 40.5% of Telkom, while another 14.8% is owned by another state-owned company - the Public Investment Corporation (PIC), which is closely linked to the South ...
King Abdullah Financial District (KAFD; Arabic: مركز الملك عبدالله المالي) is a mixed-use financial district located in the al-Aqeeq neighbourhood of Riyadh, Saudi Arabia [3] [4] Managed by the King Abdullah Financial District Development and Management Company (KAFD DMC), a wholly-owned subsidiary of the Kingdom's Public Investment Fund.