PIC rejects Musa CEO’s claims of paralysis


The Public Investment Corporation (PIC) defended its decision to liquidate a company founded by two Americans that it loaned R1.4bn in outstanding debt, saying that it cannot be blamed for acting in the best interest of clients and that it is the responsibility of managers to ensure the company is successful.

Comments on Tuesday by the PIC, the custodian of roughly R2-trillion in government employee pension funds, came a day after the CEO of Musa Group, an investment holding company founded by Will Jimerson and Antoine Johnson, blamed paralysis at the PIC...

This article is reserved for HeraldLIVE subscribers.

A subscription gives you full digital access to all our content.

Already subscribed? Simply sign in below.

Already registered on DispatchLIVE, BusinessLIVE, TimesLIVE or SowetanLIVE? Sign in with the same details.

Questions or problems? Email helpdesk@heraldlive.co.za or call 0860 52 52 00.

Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.