Africa's largest money manager PIC interested in raising Barclays Africa stake

Dan Matjila, CEO, Public Investment Corporation (PIC)

The Public Investment Corp., manager of the bulk of the South African government’s pension fund money, said it would be interested in increasing its stake in Barclays Africa Group Ltd.

“The fact that Barclays Africa has a strong platform across the continent means that it would be a good partner for the PIC as it rolls-out its strategy in Africa,” said Dan Matjila, the Pretoria-based chief executive officer of Africa’s biggest money manager. There is no such deal being considered at the moment, he said.

Barclays Plc has controlled the South African bank since 2005 and holds a 62.3 percent stake.

Read more: South Africa’s PIC Interested in Raising Barclays Africa Stake – Bloomberg Business