The president said the fund would not be an additional burden to taxpayers because it would be financed by dividends from ‘well managed’ state-owned entities
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.resident Cyril Ramaphosa said on Thursday that the government was getting to the “nuts and bolts” stage of establishing a sovereign wealth fund, but that the maintenance and upgrade of infrastructure and recruiting key public sector workers was its priority.
Ramaphosa said the government would continue to work towards the objective of a sovereign wealth fund, because it could ensure “that the national wealth of our country is effectively used to support economic and social development for years to come”. Proceeds for the fund would be from government-held assets, he said, “as it flows through dividends and other processes”.
Ramaphosa said the sovereign wealth fund would be built from state-owned enterprises and have an SOE holding company from which dividends could be drawn
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