Company Overview of Public Investment Corporation Limited
Public Investment Corporation Limited is a government owned investment manager. The firm primarily provides its services to pension fund, the Government Employees Pension Fund (GEPF), nation-critical public funds, social security funds, development funds, and guardian funds. It manages client specific portfolios and investment funds for its clients. The firm invests in the public equity and fixed income markets. It fixed income investments are comprised of debt issued by the South African government, parastatals, corporations, and securitization vehicles, and money market instruments. The firm’s fixed income investments are benchmarked against the All Bond Index and money market instruments’...
Block C , Riverwalk Office Park
41 Matroosberg Road
Ashlea Gardens Extension 6
Founded in 1911
Key Executives for Public Investment Corporation Limited
Chief Executive Officer, Director, Member of Investment Committee, and Member of REAM Committee
Compensation as of Fiscal Year 2014.
Public Investment Corporation Limited Key Developments
Public Investment Corporation Limited Presents at Mining Indaba Conference, Feb-11-2015 10:55 AM
Feb 6 15
Public Investment Corporation Limited Presents at Mining Indaba Conference, Feb-11-2015 10:55 AM. Venue: Cape Town, South Africa. Speakers: Fidelis Madavo, General Manager: Listed Equities.
Public Investment Corporation Limited Presents at 121 Mining Investment Conference, Feb-09-2015 09:00 AM
Jan 20 15
Public Investment Corporation Limited Presents at 121 Mining Investment Conference, Feb-09-2015 09:00 AM. Venue: Cape Town, South Africa. Speakers: Fidelis Madavo, General Manager: Listed Equities.
Ecobank Transnational Corporation to Appeal Ruling of Commercial Court of Abidjan
Jan 19 15
The Commercial Court of Abidjan ruled on January 15, 2015 that Dr. Daniel Matjila, a director of Ecobank Transnational Corporation (ETI) and Chief Executive Officer of Public Investment Corporation of South Africa (PIC), along with PIC and ETI are jointly liable for defamation against Mr. Thierry Tanoh, a former Group CEO of ETI. The court ordered that the three parties jointly and severally pay Mr. Tanoh $15 million. ETI is taking immediate steps to exercise its right to appeal against the decisions by the Commercial Court of Abidjan and to apply for a stay of execution of its decisions. In February 2014, when Mr. Tanoh was Ecobank Group CEO, a number of ETI directors convened a special board meeting to discuss certain developments. These included a directive of the Securities and Exchange Commission of Nigeria for ETI to reverse certain decisions that Mr. Tanoh had taken in contravention of the Commission's earlier directives and the call by the whole of Ecobank Group's executive management for Mr. Tanoh to step down. Dr. Matjila wrote a letter to board members on the March 1, 2014, stating various reasons why Mr. Tanoh should be removed as Group CEO. Mr. Tanoh sued Dr. Matjila, PIC and ETI jointly for defamation in the Commercial Court of Abidjan. In doing so, he used an Ivorian civil procedure rule that allows action to be taken in the courts of Cote d'Ivoire in certain circumstances when the defendants are not resident in that country. ETI had raised objection to the jurisdiction of the Commercial Court of Abidjan, first as this was a civil and not a commercial case. This court, as its name implies, hears commercial cases. ETI also argued that the case should be heard in Togo, the domicile of ETI, or in the courts of England as provided for in Mr. Tanoh's employment contract. The Commercial Court of Abidjan proceeded with the case on a technicality, notwithstanding the fact that ETI had raised the objection to the jurisdiction at the right time. ETI's position is that the Commercial Court of Abidjan does not have the jurisdictional right to rule on this matter, and its decision is totally unfounded. ETI believes that this sets a very dangerous precedent of law in several respects, as 2 well as for the business environment in Cote d'Ivoire. The only reason that Mr. Tanoh gave for initiating the action in Cote d'Ivoire is that he is an Ivorian national. Quite separate from the Abidjan case, Mr. Tanoh has also sued ETI in Togo for unlawful termination of his contract, and is seeking $18 million in compensation. ETI has lodged a criminal complaint against Mr. Tanoh for taking away all official files that he handled as Group CEO of Ecobank and for deleting all electronic files from the official computers that he used as Group CEO.
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