SOUTH AFRICA: AFRICA’S LARGEST FUND MANAGER FACES CORRUPTION ALLEGATIONS
Mon, 04 February 2019
President Ramaphosa has an opportunity to demonstrate his anti-corruption credentials ahead of this year’s elections by appointing a new board at the state pension fund. However, a dilution of political control over the money manager is unlikely, as the fund needs to act as a ‘last line of defence’ against any massive asset sell-offs in case of a much-vaunted triple-junk credit rating downgrade.
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