Brian Mavuka (Acting CFO) The Public Investment Corporation (PIC) is a South African state-owned entity (SOC[1]) with R2.548 trillion (USD 148 Billion) of assets under management as of 31 March 2022.

[3] Established in 1911, it holds large stakes in several South African companies, and is one of the entities through which the government implements its policy of Broad-Based Black Economic Empowerment.

The PIC is also responsible for investing in the South African Government Employees Pension Fund (GEPF).

The organisation has its origins in 1911, with the passing of the Public Debt Commissioners Act of 1911, a year after the formation of the Union of South Africa.

[4]: 3 With the first free election in South Africa in 1994, the Public Investment Commissioners announced the formation of the Isibaya Fund in 1995.