ANC suggests pension funds take some Eskom assets

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The Economic Transformation Committee of South Africa’s ruling African National Congress suggested that pension funds take over some of the assets of the indebted state power company.

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“There is a need for continued support for Eskom to overcome its immediate financial and technical challenges and to ensure reliable electricity supply,” the committee said in the document. “A solution needs to be found to Eskom’s debt problem, including the possibility of pension funds being mobilized to take over certain restructured Eskom assets.”

“The pandemic has brought sharply to the fore the persistent problem of the existence of two distinct economic realities in South Africa – one poor and mainly black, and one rich and mainly white,” it said.“South Africa needs to deploy a wider range of pro-growth and pro-investment monetary policy instruments that are compatible with the reconstruction of an economy,” it said.

 

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