Public Investment Corporation buys stake in ZAR X

The Public Investment Corporation has announced an equity investment in ZAR X on behalf of the Government Employees Pension Fund.

The investment is a 25% stake in ZAR X.

“ZAR X and the PIC share a common vision of promoting financial inclusion and stimulating developmental investment,” said ZAR X CEO Etienne Nel.

“This transaction provides us with an opportunity to own a portion of the stock exchange whilst at the same time affording us an alternative platform from which to trade and on which to list,” said head of corporate affairs at PIC, Deon Botha.

“This will further assist us in our resolve to bring about meaningful change in and transformation of the domestic capital markets.”

Now read: ZAR X looking into blockchain technology

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Public Investment Corporation buys stake in ZAR X