COMMENT: Instead of providing South Africa with a rare opportunity, the establishment of a sovereign wealth fund would surely provide our future politicians with a rare opportunity to take corruption and looting to the next level.
After all we’ve heard from the Zondo commission of inquiry into state capture, is the mining minister, Gwede Mantashe, serious about setting up a sovereign wealth fund?
In the National Assembly he said that such a fund would “ensure the benefits of the discovery are preserved for future generations” and “help grow the economy”.The only response to this idea can be: “Mantashe, are you serious?” Deputy President David Mabuza has described Eskom as “the main stage in the theatre of corruption”, but surely the parastatal would lose this title instantly if a sovereign wealth fund were established?
Although this is depressing, it is perhaps also true. And if it is true of Eskom, it must be doubly true of a sovereign wealth fund.
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