Public Investment Corporation (PIC)

About the PIC

The Public Investment Corporation, known as the PIC, is the largest asset manager in South Africa and one of the largest in Africa. It is owned by the South African government through the Minister of Finance, and its head office is in Pretoria. The PIC does not invest for private clients. Instead, it manages money for public-sector bodies. Its largest client is the Government Employees Pension Fund, which provides retirement benefits to public servants. It also invests for funds such as the Unemployment Insurance Fund and the Compensation Fund.

Its assets under management reached roughly R3 trillion in early 2025. The portfolio spans listed shares, bonds, property, private equity and impact investments. Running a business of this size takes thousands of hours of skilled analysis.

How the PIC supports students

The PIC has offered an external bursary programme since 2017. It aims to build a stronger pipeline of black finance and investment professionals. The investment industry has been slow to transform, and the PIC wants to help change that. The programme is meant for academically strong students who cannot pay for study themselves.

Funding has generally covered tuition, prescribed books, accredited accommodation and a meal or living allowance. Study fields have included accounting, actuarial science, economics, finance, investment management, computer science, information technology, human resources, internal audit and risk management. Some calls have added law. The exact list changes, so read the current advert.

The programme also offers real work experience. Bursars may take part in vacation placements during the mid-year and year-end breaks. Each one is paired with a mentor and a graduate buddy. In addition, high performers can move into the PIC's graduate development programme or workplace readiness programme.

What to know before applying

Criteria shift from year to year, but recent calls have asked for South African citizens who are young, unemployed and in financial need. A minimum average of around 60% has been required, and applicants should be going into a first undergraduate qualification at a public institution. Age limits have been set at 26 or 30 in different sources, so confirm the current rule on the official page.

Applications have been made online or by sending certified documents to the PIC's bursary email address. Documents normally include your ID, matric results, proof of acceptance and proof of household income. Recent closing dates fell in October or November. However, the PIC may change them, so start early.

Public information does not describe a binding work-back contract. The programme works through mentoring and exposure instead. Even so, ask about any conditions in the award letter. Keep your marks strong, keep in touch with your mentor and use your vacation placements well, because they can open doors.