PIC, BII Partner To Advance Investment Growth In Africa

The Public Investment Corporation (PIC) and British International Investment (BII) have signed a Memorandum of Understanding (MoU) to accelerate collaboration in investments across the African continent.

This agreement lays the groundwork for increased collaboration between one of Africa’s leading asset managers and the UK’s esteemed development finance institution, focusing on impactful investment opportunities that promote sustainable economic growth and development throughout the continent.

The MoU emphasizes a mutual commitment to share deal pipelines, which will facilitate the exchange of promising investment opportunities across diverse economic sectors, including agriculture, financial services, infrastructure, and climate initiatives. This partnership not only encourages regular dialogue but also explores co-investment opportunities, allowing both organizations to leverage their strengths for maximum impact.

By working together, PIC and BII aim to identify new capital deployment avenues that contribute to transformative development across Africa. Their collaboration will focus on reviewing investment opportunities in debt, equity, and funds.

The outgoing CEO of PIC, Abel Sithole, highlighted that the organisation’s approach to investing in Africa is rooted in collaboration and partnership.

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“Our partnership with BII solidifies this strategy and will enable the utilisation of blended funding models to facilitate infrastructure development, industrialisation, and trade across the continent.

We are excited to unite the strengths of two substantial impact investors for the greater benefit of Africa,” Sithole stated.

Chief investment officer at PIC, Kabelo Rikhotso, emphasised the importance of cooperation in achieving client investment objectives.

“This MoU opens new avenues for expanding our investments across Africa. By sharing deal pipelines and exploring co-investment opportunities, we are well-positioned for fruitful collaboration between PIC and BII as we work towards investing in emerging economies,” Rikhotso added.

The CEO of BII, Mr. Leslie Maasdorp, expressed enthusiasm about the partnership, stating, “this collaboration with PIC embodies our shared goal of driving growth and amplifying our impact across the continent. By combining our expertise and resources, we can unlock transformative investment opportunities that support sustainable development and stimulate economic growth, attracting increased commercial capital to key sectors in Africa.”

The British High Commissioner to South Africa, Mr. Antony Phillipson stated, “the collaboration between BII and PIC represents a milestone in deepening the UK-South Africa Growth Partnership. It underscores our common commitment to mobilizing capital for sustainable development across Africa, uniting two institutions with a shared vision of unlocking inclusive growth, supporting resilient infrastructure, and creating long-term opportunities in South Africa and the broader continent.”