The Public Investment Corporation (PIC) has allocated R70 billion towards developmental investments over the next few years.
Tabling the National Treasury Budget Vote yesterday (Wednesday), Deputy Minister of Finance, Mcebisi Jonas, said: “The PIC will invest R70 billion in developmental investments over the next three to five years to drive economic growth and job creation.”
Agriculture and agro-processing, mining and beneficiation, manufacturing, infrastructure and real estate, social infrastructure and energy (renewable and conventional) will be the focus areas of the PIC investments, said Jonas.
The PIC will further allocate about R1 billion towards investments in small and medium enterprises.
“These investments are expected to improve the risk profile of our client portfolios and deliver sustainable returns. The PIC has allocated a further R5 billion towards job saving in vulnerable sectors such as mining, construction and manufacturing,” Jonas pointed out.
