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...

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