The President took charge of the crisis, showed the authoritarians in Cabinet that he's still the boss, writes Adriaan Basson.
Rain. Morning clouds. Cool.
The Government Employees Pension Fund has requested a report from the PIC on a decision to purchase undeveloped farmland valued at R586m.
The GEPF had no reason to update Sekunjalo executive chair Iqbal Survé about the way in which the PIC handled its investment in AYO, head of the fund Abel Sithole told Fin24.
The GEPF, which has registered impairments of over R5bn in its investments in Steinhoff’s empowerment partner Lancaster 101 and Independent News and Media SA, says it has no reason to believe it did not conduct proper analysis.
The Government Employees Pension Fund says it has still not been approached about a proposal to increase its exposure to Eskom debt.
The head of South Africa's largest state pension fund, Abel Sithole, has said the fund remains financially sound and employers would not need to increase contributions, despite concerns raised by Alexander Forbes Financial Services in a valuation.
The Government Employees Pension Fund is “over-exposed” to the South African economy and this needs to be addressed, says Abel Sithole, the fund’s principal executive officer.
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