ANC wants pension funds to take over restructured Eskom assets – here’s the plan

The ANC has unveiled its plan for economic recovery post Covid-19, including in it a proposal that pension funds should take over restructured Eskom assets. There appears to be broad agreement that South Africa needs to come up with an urgent recovery plan for the economy. Shortly before the ANC made its announcement, Business for South Africa unveiled its "parachute" for South Africa that they say could lead to recovery to what the country looked like pre-Covid-19 in three years. If the government does not implement their plan, B4SA say, the economy – already over the cliff – could find itself in a sovereign debt crisis or could be a failed state in five years. – Linda van Tilburg

The ANC's Economic Transformation Committee, headed by Enoch Godongwana, was tasked by the organisation in February to look at how the South African economy should be restructured to deal with Covid-19. The final version of the discussion document was revealed to the media. It emphasises the need for accelerated implementation of a reconstruction and development plan, with an emphasis on infrastructure projects. The issue that is likely to ignite a heated debate in South Africa is the focus on pension funds and their role in rescuing Eskom. 

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