A few days ago, President Cyril Ramaphosa proposed plans of using state worker’s pensions to revive South Africa’s struggling economy to Parliament.
Ramaphosa opened the doors for debate as a possible option to help curtail the dire economic straits of the Country. South Africa has recorded one of the highest levels of unemployed youths in recent times.
However, the state workers’ pensions have expressed the lack of trust in the government to channel workers pensions into state-owned companies including Eskom Holdings SOC Ltd and others. A spokesperson, Adamus Stemmet opined that this will only result in further losses.
The Public Investment Corporation responsible for the $150 billion in workers pension has now been put in the spotlight as the likely messiah to save the current economic hardship in the country,