Development | Radio 98.3FM

Down The Corruption Rabbit Hole: In yet another shocker for members of the Government Employee’s Pension Fund, it has been revealed that The Public Investment Commissioner (PIC) has “invested” in land, on their behalf, for R570,525 per hectare in Coligny, where the average price per hectare is less than R20,000! The Ex SA Ambassador to Italy, Tembi Tambo (pictured), daughter of Oliver Tambo, is a representative of @Isago, the controversial company benefiting from this and other highly questionable transactions.

Criminal “Fund Managers” are robbing Peter to payback Paul, who they also robbed but were caught out. In a shock for members of the Government Employee’s Pension Fund (GEPF), which has been looted by the very body that should be protecting it, The Public Investment Commissioner (PIC), which has just dished out a massive R586,525 Million for 60% share in 2 bare pieces of undeveloped land, near Coligny in North West Province.
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Ramaphosa acknowledged in parliament on Thursday that South Africa’s financial resources were depleted while the country’s development needs were enormous. He did not say straightforwardly whether he supported “prescribed assets”, he said later, the pension fund industry and other stakeholders needed to talk about using pension fund assets to support the country financially. The country’s money is running out and South Africans’ pension fund assets are becoming an increasingly likely target for the government to pull the wagon through, it became clear on Thursday.

According to Ramaphosa, pension fund assets in other countries are used to invest in the development of the country and pension funds achieve good returns from infrastructure projects in particular. He says the trade union Cosatu supports its view that workers in SA’s pension money are used this way. According to Ramaphosa, this is considered positive by the
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Ramaphosa lets the cat out of the bag: The bad news: ‘Our money’s up’