The best time to plant a tree was 20 years ago, the second best time is now - so the Chinese proverb goes. Those who plant trees do so with the knowledge that even though they may not enjoy the tree at its full height, others will enjoy its full splendour. In battling the challenges South Africa faces now, the focus should be not only on solving our current problems but on building a legacy for future generations. Which is why the proposal by the EFF to establish a sovereign wealth fund has great merit. One of the most well-known funds of this kind is the Government Pension Fund Global (which is not a pension fund despite the name), more commonly known as the oil fund, that is run by Norway. It now has a value of about $1-trillion (about R11.6-trillion). According to Sovereign Wealth Fund Rankings, as of January, the second-largest fund is owned by China, with a value of $900-billion, followed by funds in the UAE, Kuwait and Saudi Arabia. It's not hard to figure out where this wealt...
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