Prescribed assets may save rural areas from disappearing down potholes
Opinions are divided over calls for laws to force the pension fund industry to invest in development projects
27 January 2020 - 19:55
Whenever I spend time in Butterworth, I lament in disbelief at the extent of my hometown’s fall from grace. It is a debilitated wreck compared to what it was in the 1980s, when it was a small but thriving industrial town in the middle of rural Transkei.
Butterworth, now part of the Eastern Cape, deindustrialised after 1994 when investors pulled out, and so a decline in the town’s infrastructure began. The slide into a state of despair was accelerated by corruption, incompetence, mismanagement and political infighting involving various competing ANC factions in the province...
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