GEPF watches nationalisation debate with interest

The Government Employees Pension Fund (GEPF) said it “is cautiously observing the nationalization debate”.

The GPEF owns assets north of R912 billion on behalf of 1.2 million government employees and 320 000 pensioners.

People who opposed to nationalisation and want to kill the debate have often used the GEPF holdings to warn that nationalisation would destroy the country’s wealth, a significant portion of which is held by government and black workers.

The GEPF sent mixed messaged in its statement about the nationalisation debate. The statement said the fund’s exposure in the sectors that have been at the centre of the nationalisation debate, mines and banks, is roughly about R118billion and R52billion respectively/

The GPEF added that “robust engagement on national questions is a healthy sign of our maturing democracy and constitutional order. If anything, this should be encouraged. As we continue to deliberate on these matters, we need to ask the question: how can we address our persistent economic inequalities without rolling back the gains we have already made as country?”

This is the question the business community and all interested parties should answer instead of advocating for narrow selfish interests, said the GPEF.

“To this end, we believe that finding lasting solutions to our economic challenges will, in the long term, augur well for our young democracy, the sustainability of our economy and indirectly the security of our members’ retirement savings”.

“We are willing to engage with relevant bodies in the interest of our members and country as a whole”.

Leave a Reply

Your email address will not be published. Required fields are marked *