PSG chief slams policy instability
Piet Mouton says uncertainty and lack of clarity could prompt investors to hoard cash
PSG Group CEO Piet Mouton on Wednesday bemoaned the lack of policy certainty and stability in SA, citing changes affecting the country’s broad-based BEE trusts. The Black Economic Empowerment Commission last week said some of the country’s BEE trusts were not compliant with the Broad-Based Black Economic Empowerment Act. “That is a major change in policy. I am not sure if it is for the better. It is going to be difficult for these players to adapt to the changes,” Mouton said. PSG’s investments across various sectors including banking, education, financial services and food were in need of policy stability and clarity, he said.. PSG’s businesses include Capitec Bank, Curro Holding, PSG Konsult and Zeder Investments. Companies made investment decisions based on prevailing rules and regulations, he said. “If the rules change mid-way, you have to sit back and adjust your strategy.” Speaking after the release of the company’s results for the year to end-February, Mouton said policy ...
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