'Forcing pension funds to invest in struggling SOEs can save South Africa'

A screengrab of Mark Barnes, CEO of the South African Post Office. Picture: BDTV.

The ANC is looking into forcing pension funds (“prescribed assets”) to invest in struggling state-owned companies such as Eskom and the South African Post Office (Sapo).

Prescribed assets can save South Africa, according to Mark Barnes, CEO of Sapo.

If handled properly, he believes, it could be the perfect solution to South Africa’s “funding fiasco”.

The Money Show’s Bruce Whitfield interviewed Barnes.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The money’s got to come from where the money is made… Are we going to increase taxes? Are we going to increase tariffs? It could be the least [of all evils]…

Mark Barnes, South African Post Office

This is capital to save us from mistakes and to fill holes… You’re not going to get money internationally… at a price vaguely comparable [to prescribed assets]…

Mark Barnes, South African Post Office

Of course, if there’s no management there’s no asset.

Mark Barnes, South African Post Office

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