IRH is a subsidiary of International Holding Company IHC.AD, the United Arab Emirates’ (UAE) richest company, while the state-owned PIC is Africa’s largest asset manager. The PIC’s 2.89 trillion rand ($169 billion) assets under management include mining, agriculture, manufacturing, real estate and financial services investments.
IRH and PIC would cooperate on South Africa’s planned replacement of its coal-dominated power generation with cleaner sources of energy, they said in a joint statement, without giving details.
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