September 20, 2018 / 9:20 AM / 3 months ago

South Africa's state pension fund invests $100 million in Afreximbank

JOHANNESBURG, Sept 20 (Reuters) - South Africa’s state pension fund said on Thursday it would invest $100 million to buy shares in African Export-Import Bank (Afreximbank) as part of the pension fund’s plan to invest in the rest of the continent.

The Public Investment Corporation (PIC), which manages roughly 1.9 trillion rand ($130 billion) of civil servants’ pensions and is Africa’s biggest pension fund, said it would acquire Class B shares in Afreximbank in line with its mandate to invest 5 percent of its assets in the rest of the African continent.

Reporting by Tanisha Heiberg Editing by James Macharia

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