Economists have issued a serious warning as they fear public pension funds will be used to fill Eskom’s massive black debt gap.
Mike Schussler shares other economists’ fears and says that such rumors have been around for 11 months. Eskom’s debt burden may rise to R600bn over the next few years, and businessmen reckon Eskom will not get rid of the huge debt burden again unless skilled people take control and get rid of the hundreds of redundant workers.
South Africans’ pension funds are in the ANC’s sights and the governing party may be able to prescribe future asset managers of these funds how to invest their money.
It is believed that they are striving to receive funds for “socially productive investments (such as housing, social and economic development infrastructure and township economies) and job creation”.
Intellidex economist Peter Attard Montalto, in response to the ANC’s election ma
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