In August, I wrote about how a sovereign wealth fund (SWF) could lead black economic transformation.  I will now deal with the mechanics of creating a SWF: but not a conventional SWF, ass SWFs are usually funded by surpluses in resource-backed economies. I don’t want to term it a development fund either, as ownership and control must be balanced between the government, the private sector, labour and civil society. I am a strong proponent of ensuring that the B-BBEE Amended Codes of Good Practice drive broad-scale economic development through the creation of new, black-owned businesses that can drive job creation and increase the size of our economy. The mechanics I’m proposing have also been sparked by an article in City Press on February 4 titled Privatise: New Eskom Brass Tread Lightly Around the P-Word, by Dewald van Rensburg. Van Rensburg asks how one privatises Eskom without actually privatising it. By getting state-owned entities to swap their loans to Eskom of more than R100b...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now