OPINION: Where we see eye-to-eye with Malema
CAPE TOWN – The leader of the Economic Freedom Fighters (EFF), Julius Malema, addressed the National Press Club of South Africa last week on Friday, in Cape Town, and I attended.
Malema touched on various topics, which Business Report has also covered recently. Some of those were, whether or not, South Africa needs a State Bank, a Sovereign Wealth Fund or, a Minister of Public Enterprises.
In last week’s State of the Nation Address (Sona), President Ramaphosa stated that Finance Minister Tito Mboweni would elaborate on the establishment of a sovereign wealth fund and a state bank, when he delivers his Budget Speech on February 26.
The sovereign wealth fund would be “a means to preserve and grow the national endowment of our nation”, Ramaphosa said.
According to President Ramaphosa, when addressing the state last Thursday, “a sovereign wealth fund is a state-owned investment vehicle.”
Source: iol.co.za