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Ramaphosa dodges DA question on using pensions to develop economy

DA leader Mmusi Maimane questioned the wisdom and benefits of using South Africans’ pensions to help develop the economy.

President Cyril Ramaphosa. Picture: @PresidencyZA/Twitter

CAPE TOWN - President Cyril Ramaphosa would not say whether he supported the prescription of assets, a policy that could see local pension funds being invested in state companies, to help develop the economy.

Members of Parliament grilled Ramaphosa on Thursday on a range of issues, from his CR17 campaign to land reform.

DA leader Mmusi Maimane told Ramaphosa that the African National Congress (ANC) had stated previously that it supported the prescribing of assets and the use of people’s pensions by the state.

The ANC called for this in its election manifesto earlier this year.

But Maimane questioned the wisdom and benefits of using South Africans’ pensions.

Ramaphosa, without answering whether he supported this, accused Maimane of repeating a question he had already dealt with.

Ramaphosa said a discussion was needed with the pension fund industry and labour on how best to address the country’s economic challenges.

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