JOHANNESBURG - South Africa’s Public Investment Corporation (PIC), one of the continent’s largest asset managers, has not ruled out investing in struggling state-owned airline SAA, its chief executive said yesterday.

“We are not closing the door on SAA,” chief executive Dan Matjila told parliament’s finance committee, adding that SAA would first need to improve governance and implement a turn-around strategy before being considered. 

The PIC manages South African government employee retirement funds and has been in the spotlight recently after reports that the finance ministry requested money from the pension fund to bail out struggling state firms.