Finance
S.Africa's state-owned PIC partners with UK DFI on African infrastructure
Published by Global Banking & Finance Review®
Posted on June 23, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 23, 2025
2 min readLast updated: January 23, 2026
South Africa's PIC and UK's BII partner to boost African infrastructure, focusing on climate funding and private capital investment.
By Colleen Goko
JOHANNESBURG (Reuters) -South Africa's state-owned Public Investment Corporation and UK development financier British International Investment have formed a partnership to boost investment in African infrastructure, the organizations said on Monday.
Financial terms were not disclosed.
The partnership will mobilize private capital in Africa at scale to expand climate funding and boost the rise of private credit as a new asset class, said Leslie Maasdorp, CEO of BII, the UK government's development finance institution.
Under the memorandum of understanding, PIC, Africa's biggest fund manager, and BII will create a framework to jointly explore co-investment opportunities across Africa.
Priorities include small and medium enterprise financing, financial inclusion, green economy transitions and infrastructure in countries in Southern, Eastern and Western Africa, PIC said.
Investment opportunities will be considered on a case-by-case basis, a PIC spokesperson said in an email.
Africa faces an annual infrastructure and climate finance gap of more than $100 billion, according to the African Development Bank. Many bilateral donors are pulling back due to domestic fiscal and political pressures.
PIC manages three trillion rand ($166.72 billion) in assets. BII has an Africa portfolio of $5.6 billion.
($1 = 17.9940 rand)
(Reporting by Colleen Goko; Editing by Richard Chang)
The partnership aims to boost investment in African infrastructure by mobilizing private capital at scale, focusing on climate funding and the rise of private credit as a new asset class.
Priorities include financing for small and medium enterprises, promoting financial inclusion, facilitating green economy transitions, and enhancing infrastructure across Southern, Eastern, and Western Africa.
PIC manages three trillion rand, which is approximately $166.72 billion.
Africa faces an annual infrastructure and climate finance gap of more than $100 billion, as reported by the African Development Bank.
Under the memorandum of understanding, PIC and BII will create a framework to jointly explore co-investment opportunities across Africa on a case-by-case basis.
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