Vuyo Jack has a student funding idea he says will also address BEE and jobs
Vuyo Jack, chairperson of Empowerdex, has outlined an equity funding system he says will help SA resolve the fees conundrum and deal with unemployment. His proposal is for a nation-building fund that is neither a government nor a private sector fund. It would be structured as a donation and tap into enterprise development funds and black economic empowerment (BEE) ownership schemes. "The biggest amount would be around the BEE ownership schemes. When you look at the ownership targets of all companies, there is 3% that is targeted for broad-based BEE schemes," Jack said at a media briefing on Wednesday. A fraction of corporate SA’s R13-trillion market capitalisation would make a big difference, he said. "If you ring-fence 3% of all these stakes you could raise, in the short term, about R100bn — and you can have a long-term goal of raising R300bn." This was low-hanging fruit because companies needed it to contribute towards their BEE scores, which they needed to be able to do business,...
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