These are so-called clever people, and clever people are sitting on my right. They are not fools, because they understand the manifesto of the ANC.
The Public Investment Corporation, PIC, is a significant player in the South African economy, managing assets of over R2,083 trillion, and still growing. The PIC's principles of environmental and social
governance are in many ways aligned to South Africa's commitment to the realisation of the sustainable development goals.
President Cyril Ramaphosa, in delivering the ANC's January 8 statement, the ANC's manifesto, and the state of the nation address, has made a commitment to turn South Africa's economy around for the benefit of all citizens, not only those of the Western Cape. In the past year, President Ramaphosa, as promised, focused government's efforts on accelerating inclusive growth and significantly increasing levels of investment and putting in place measures to create more jobs. He presented an economic stimulus and recovery plan that redirected public funding to areas with the greatest potential for growth and job creation. He also introduced a range of measures to ignite economic activity, restore investor confidence, support employment, and address the urgent challenges that affect the lives of vulnerable members of our society.
It is this Public Investment Corporation Bill which gives us an opportunity to co-invest directly in the economy, in sectors that can create much- needed jobs. The PIC is mostly interested in the economic growth of South Africa. If people reject the economic growth of South Africa, where do you want to take this country?
The growth of the assets under its management is directly linked to that of the economy.
The 2018 PIC annual report demonstrates that there was investment growth of assets under management into the real economy. Continued investment in sectors with socioeconomic impact linked to the National Development Plan through unlisted investments amounted to a total R18,55 billion.
Most of these were in health care, manufacturing, affordable housing, energy and student accommodation. [Time expired.]