In a media briefing held in Johannesburg on Thursday, the provincial government presented a weighty legal due diligence report on its plans to establish a state-owned bank.
JOHANNESBURG - The Gauteng government said its state-owned bank would benefit township people who do not receive support from traditional finance institutions.
The Gauteng Treasury Department has so far spent R4 million on researching the legal possibilities of establishing a state-owned bank and pharmaceutical company. These initiatives were first announced by Panyaza Lesufi, Gauteng Premier, during his 2023 SOPA speech. TCG pic.twitter.com/j7GD2K0REx Finance MEC Jacob Mamabolo said if these entities become a reality, the return on investment will be far greater.
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