Multinational real estate firm Grea has raised $48.5 million (Sh6.3 billion) from South Africa’s Public Investment Corporation (PIC) after taking steps to shift its office from Mauritius to Kenya, a condition for release of the funds.
PIC had delayed the disbursement of the cash as a result of South Africa's recent regulatory directive that has restricted state-owned entities from investing in low-tax jurisdictions or using them as investment conduits.
