South Africa. Bad governance can undo govt guarantees of SOE investments – pension fund chair
Government guarantees of investments in state-owned enterprises can be made meaningless by bad governance, Dr Renosi Mokate, chair of the board of trustees of the Government Employees Pension Fund said on Tuesday.
Mokate was taking parting in a panel discussion on financing sustainable infrastructure at the 4th annual meeting of the New Development Bank, commonly known at the Brics Bank, in Cape Town.
The GEPF manages pensions and other benefits for state employees in South Africa. The Public Investment Corporation is the state-run asset manager which invests on behalf of the GEPF and other public sector funds.
“Governance is very important for us. We do not want to put money into something and then because of a lack of governance, we do not have the results pensioners were expecting,” said Mokate.
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