The largest shareholder of South African Social Security Fund is Industrial and Commercial Bank of China. According to relevant information, Standard Bank of South Africa was incorporated in South Africa from 1962 and has grown into the largest and most powerful economy in Africa. At the end of 20 14, industrial and commercial bank of China proposed to acquire standard bank of south Africa, and announced on February 2, 20 15 that it had completed the acquisition of 60% equity of standard bank public limited, officially becoming its largest. ICBC's acquisition of equity in Standard Bank includes: Standard Bank issues new shares to ICBC at the price of 104.58 South African rand per share, which is equivalent to 10% of the enlarged total share capital.