No More Loans to Six Big SA Firms
Futuregrowth Asset management has announced that it will stop lending money to six of South Africa’s largest state firms.
These are Eskom Holdings, Transnet, Sanral, Land Bank of SA, the Industrial Development Corporation of South Africa and the Development Bank.
The company says it is concerned about how these companies are being run with political infightings at the finance ministry.
It says it will only resume offering loans and rolling over existing debt once it has determined that what it sees as proper oversight and governance at the companies have been restored.