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National Treasury Says PIC Will Not Invest In SAA


South Africa has not yet identified a potential equity partner for troubled national airline SAA and the state pension fund manager PIC will not invest either, National Treasury said in a response to questions to parliament on Friday.

The Public Investment Corporation, one of the continent’s largest asset managers, has not ruled out investing in South African Airways, its chief executive said last month amid concerns workers’ pension savings would be used to keep planes flying.

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