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MPs discuss Sanral bonds

MPs say only 2% of the R15 billion invested in the Sanral bonds is guaranteed

Interdict against e-tolling granted
Democratic Alliance,SANRAL,South African National Roads Agency Limited,Tim Harris,Government Employee Pension Fund
Local

CAPE TOWN - Only two percent of the R15 billion invested in the South African National Roads Agency Limited (Sanral) bonds by the Government Employee Pension Fund is guaranteed, parliamentarians warned on Wednesday.

The fund owns 50 percent of Sanral’s issued bonds.

The board of trustees and fund managers outlined their annual strategic plan in Parliament on Wednesday.

But, Members of Parliament including the Democratic Alliance’s Tim Harris raised several concerns.

“We have a significant portion [of the bonds] up in the air if Sanral’s business model falls apart.”

(Edited by Zethu Zulu)

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