Budget 2020: Sovereign Wealth Fund to be formed

Budget 2020: Sovereign Wealth Fund to be formed

2020-02-26 08:36:00 PM

Budget 2020: Sovereign Wealth Fund to be formed

Tito Mboweni says said R30-billion will go towards the Sovereign Wealth Fund.

Mboweni said R30-billion will go towards the fund.WATCH:Mboweni delivers 2020 Budget SpeechThe fund, however, will still need to be approved by Parliament.“There are a variety of possible funding sources, such as the proceeds of spectrum allocation, petroleum, gas or minerals rights royalties, the sale of non-core state assets, future fiscal surpluses and money we set aside. This will ensure that we continue to invest in the future generations of this country in a fiscally-prudent manner,” said Mboweni.

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He added that the process to form a state bank is underway and that preferred options for the establishment of a bank are now ready. Read more: eNCA »

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More looting? chinafrica1 'Possible funding sources, such as the proceeds of spectrum allocation, petroleum, gas or minerals rights royalties, the sale of non-core state assets, future fiscal surpluses and money we set aside.' How about those tax heavens resources plummeting african net worth overall?

Minus the wealth 😂😂😂

Mboweni clarifies funding for Sovereign Wealth FundFinance minister says mooted vehicle could be funded through allocation of spectrum

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Mboweni clarifies funding for Sovereign Wealth FundFinance minister says mooted vehicle could be funded through allocation of spectrum

WATCH LIVE | Tito Mboweni delivers much anticipated budget speechBudgetSpeech2020 | As to the bane of the working class, it remains to be seen whether tax will be increased.

READ IT IN FULL: Mboweni's budget speech - The Mail & GuardianHere is the finance minister's address on the 2020 budget

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