PIC's eyes on Barclays stake
The Public Investment Corporation, manager of the bulk of the South African government's pension fund money, said it would be interested in increasing its stake in Barclays Africa. "The fact that Barclays Africa has a strong platform across the continent means that it would be a good partner for the PIC as it rolls out its strategy in Africa," said Dan Matjila, chief executive officer of PIC. There is no such deal being considered at the moment, he said.Barclays has controlled the South African bank since 2005 and holds a 62.3% stake. New CEO Jes Staley has made it clear he might reduce London-based Barclays' African presence.The PIC, with stakes in most of South Africa's biggest companies, already owns about 6% of Barclays Africa."We are fairly satisfied with how the company is run," Matjila said, declining to comment on what size of stake the PIC would like to have in the bank. ..
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