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The SACP/ANC alliance wants prescribed asset rules and/or the NSSF to give it control over the enormous pot of pensions and other savings.
24 February 2022 - “South Africa now pays grants to more than 46% of the population.” This line in Finance Minister Enoch Godongwana’s 2022 Budget speech perfectly encapsulates the situation into which the ruling party’s ideological and policy choices have forced South Africa.
Letter: Blade Nzimande muddies the prescribed asset pool - Businesslive 13 January 2021 - At its 2017 national conference the ANC put prescribed assets on the table. The notion was to force financial institutions to invest a share of their savers’ funds in projects handpicked by the government to fund “public infrastructure, skills development and job creation”. At its 2017 national conference the ANC put prescribed assets on the table. The notion was to force financial institutions to invest a share of their savers’ funds in projects handpicked by the government to fund “public inf...