Transport pensions languish in unfinished ‘sustainable township’
The Transport Sector Retirement Fund has sunk R415m into the Lethabong Lifestyle Estate, expecting returns of 15%-32%. But no other investors have yet come forward with more money, and the R2.7bn project is woefully behind schedule
30 September 2021 - 05:00
The Transport Sector Retirement Fund (TSRF), the custodian of pension savings of 70,000 workers in the road freight and logistics industries, has invested almost 5% of its total capital into a beleaguered "sustainable township".
It’s a curious decision that may prove costly, not least because the housing project has raised far less money than initially planned — and is woefully behind schedule...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now