ANC to push sovereign wealth fund
2018-08-12 10:00 Setumo Stone
The ANC is in a hurry to establish a sovereign wealth fund (SWF) before the start of the next term of government.
The SWF, an investment pool made up of money from the country’s reserves, will be one of the governing party’s flagship ideas ahead of next year’s general elections. It is used by countries to boost the economy by investing in diversified high-risk and high-return assets.
According to a report from the ANC’s national executive committee lekgotla last month, the party wants the establishment of the state-owned investment company to be high in its elections manifesto and its implementation to start immediately after the next administration takes office next year.