October 17, 2017 / 10:33 AM / 5 months ago

South Africa's PIC has not ruled out investing in SAA

CAPE TOWN, Oct 17 (Reuters) - South Africa’s Public Investment Corporation, one of the continent’s largest asset managers, has not ruled out investing in struggling state-owned airline 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 South African Airways 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.

Reporting by Wendell Roelf; Editing by James Macharia

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