PENSION FUND
ANTHONY BUTLER: Zuma might funnel off workers’ savings to prop up patronage
‘We need to mobilise our domestic savings and capital markets, these include pension funds’
The ANC’s national executive committee (NEC) has shied away from "recalling" Jacob Zuma from the state presidency and it is easy to see why. Zuma’s camp has worked hard to build an aura of inevitability around the succession of his proxy, Nkosazana Dlamini-Zuma. The "premier league" of provincial ANC chairmen has rigged recent ANC youth and women’s league elections so successfully, their influence over December’s elective conference has been taken for granted. The president’s patronage projects, such as the R1-trillion nuclear energy procurement exercise, held out the promise of untold riches for numerous beneficiaries. More recently, Zuma has hinted at an enticing programme of "radical economic transformation".However, over the past few weeks, Zuma’s plans have fallen into disarray. Dlamini-Zuma’s aura of triumphant inevitability has dissipated. Her early campaign performance suggests she could render her party unelectable in 2019. Meanwhile, the anti-Zuma faction is soldiering ahe...
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