South Africa orders probe into $150 billion state pension fund - treasury


  • World
  • Wednesday, 25 Jul 2018

JOHANNESBURG (Reuters) - South Africa's finance minister on Wednesday ordered an independent inquiry into state pension manager the Public Investment Corporation (PIC), following corruption allegations involving high-ranking executives, the National Treasury said.

PIC, which is Africa's biggest investment fund, said this month its legal head had quit after evidence of wrongdoing emerged during a disciplinary hearing into the collapse of VBS Bank.

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