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Ramaphosa calls for discussion on utilising pension funds for projects

South Africa should discuss using worker pension funds to finance development and infrastructure projects, a proposal that has the backing of the country’s largest labour federation, President Cyril Ramaphosa said on Thursday. In its 2019 poll manifesto ahead of the May general election, the ruling African National Congress (ANC) mentioned investigating prescribed assets – where the government authorises the investment of retirement savings in certain developmental assets – but was short on specific details.

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