Budget 2020: Sovereign Wealth Fund to be formed

Budget 2020: Sovereign Wealth Fund to be formed

26.2.2020

Budget 2020: Sovereign Wealth Fund to be formed

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

announced its formation during his budget speech on Wednesday. Mboweni said R30-billion will go towards the fund. WATCH: Mboweni delivers 2020 Budget Speech The 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. 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. Source Read more: eNCA

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 😂😂😂

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