Pension Fund bought Sanral bonds
The Government Employees Pension Fund said they were unaware of Sanral's e-tolling plan.
CAPE TOWN - The Government Employees Pension Fund managers on Wednesday said they had no knowledge of South African National Road Agency Limited (Sanral) e-tolling plan when purchasing Sanral bonds.
In 1998 the fund bought 50 percent of Sanral's bonds valued at R15 billion.
The fund's board was in Parliament today to present its key strategic initiatives for the next financial year.
The fund's acting principal officer John Oliphant said, "We bought Sanral bonds. And obviously Sanral bonds you buy at a company level and they will choose what they do with it."
On Saturday, the North Gauteng High Court halted the multi-billion Rand project so a full review can be heard.