South Africa's financial watchdog has instructed the governing party to pay R10 million every month to clear its R86 million debt in provident fund contributions for its employees.
JOHANNESBURG - The Financial Sector Conduct Authority ’s commissioner Unathi Kamlana said that it may be forced to take more regulatory action against the African National Congress should it fail to pay provident fund contributions for its staff members.
The FSCA has confirmed that the #ANC owes R86 million in provident fund contributions for over 530 of its staff members. The regulator says the governing party has not been meeting its obligations to make regular retirement contributions for its staff. pic.twitter.com/3GkDvCVClJ
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