This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Citywire reports that twelve retirement funds with an estimated R3 trillion in assets under management have established a forum to collaborate regarding infrastructure investment in SA.
The new entity is known as the Asset Owners Forum South Africa (Aofsa). United States Agency for International Development (Usaid) and Mobilizing Institutional Investors to Develop Africa’s Infrastructure (Mida) Advisors will provide technical and advisory support to the new forum. The World Bank is offering capacity building and advice on infrastructure investments. The Batseta Council of Retirements for South Africa convened the forum’s launch and provided secretarial services. The forum’s chair is Ndabezinhle Mkhize, who is also CIO of the Eskom Pension and Provident Fund. Mkhize said the forum aimed to support infrastructure investments by sharing knowledge, resources and due diligence costs. The formation of the new entity comes as National Treasury reviews Regulation 28 of the Pension Funds Act to make it easier for retirement funds to invest in infrastructure. During the launch, Kgosientsho Ramokgopa, head of investment and infrastructure in the Office of the Presidency, said that infrastructure would be the flywheel to help achieve local GDP growth. US Consul General in Johannesburg Vincent Spera said the US government was committed to working with the forum to lay the groundwork for enabling local pension funds to invest in alternative asset classes such as infrastructure and private equity.
- Read the full original of the report in the above regard by Justin Brown at Moneyweb
Get other news reports at the SA Labour News home page