Posts tagged with 'Development'

 

ANC Regime Are African Tinpot Despots: Pension Fund Plunder Makes R556 MILLION “Profit” on Unused Bare Land in Klerksdorp! The Facts:

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LAND DEAL OF THE CENTURY: We just can’t stop the ANC regime which has captured South African government institutions, to use as personal cash machines, running the country like African tinpot despots. The capture and crookedness, the famous #AfricanWay, is just too deep seated. Ramaphosa is sitting on the findings of the Mpati commission for several months now while the PIC, which runs the Government Employee’s Pension Fund GEPF), paid 28 times the going rate for a piece of of bare land which was bought by a fraudulent Klerksdorp developer, Isago@N12 Development, for only R20 million.

We have been subjected to State Capture news for years, and there has been a judicial commission of enquiry into the workings of the Public Investment Commissioner (PIC) , called the Mpati commission, but still something like this happens? To top off the Land Deal of the Century, <a href="https://sa-news.com/statecapture-2-0-ex-sa-ambassador-to-italy-tembi-t
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#StateCapture 2.0: Ex SA Ambassador To Italy, Tembi Tambo, Oliver Tambo’s Daughter, Linked to Government Pension Fund Plunder! PIC Pays 28 Times More Than Market Price For Bare Undeveloped Land!

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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 lets the cat out of the bag: The bad news: ‘Our money’s up’

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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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