LUMKILE MONDI: Cosatu and SAA solutions hint at Treasury defeat

Developments indicate that political pressure has been applied to clear the way for state-led initiatives

The funding of SAA by the Development Bank of Southern Africa represents a significant macroeconomic policy shift by the ANC government.

Its timing, together with the Cosatu document on Eskom that argues for the retention of the status quo and job protection through the prescribed asset mechanism — using individual state pensioners’ money — reinforces my view that the Treasury has capitulated to political pressure for a state-led economic development model.

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