Cosatu 'in principle' open to prescribed assets, but warns against looting

fin24.com

- fin24.com | 4 weeks ago

"It (the investment) cannot be used to subsidise or bail out corruption and mismanagement," he said.

On Thursday Ramaphosa, in response to a question by DA leader Mmusi Maimane, said the issue of prescribed assets had been "discussed over and over again". "In the end we will pursue policies that advance the interest of our people here in South Africa and also advance the interest of pension fund holders," he said.

The ANC resolved at its 2017 54th National Conference, which elected Ramaphosa as party president, to investigate a "new prescribed asset requirement" that would ensure that a "portion of all financial institutions funds be invested in public infrastructure, skills development and job-creation".

read full story @fin24.com