LETTER: Sovereign wealth fund ripe for corruption
Mineral resources minister Gwede Mantashe says the fund will help grow the economy
After all we’ve heard from the Zondo commission, is mineral resources minister Gwede Mantashe serious about setting up a sovereign wealth fund? On March 13 I was scrolling through the Business Day newsfeed. The articles were (in this exact order) “Can the NPA be revived?” and “An apolitical NPA needed”, “Failure to indict Jacob Zuma violated justice”, “The tragedy of the Zuma years” and “Tainted cadres on ANC list”. These disheartening gems were the first five articles. A tiny bit further down was an article reporting that Mantashe had proposed setting up a sovereign wealth fund with the revenue from the gas find off the SA coast. In the National Assembly he said that such a fund would “ensure the benefits of the discovery are preserved for future generations” and “help grow the economy”. He added that it “provides SA with a rare opportunity”. The only response to this idea can be: Gwede, are you serious? As the preceding articles on the page demonstrate, our political hierarchy has...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.