Prescribed assets will benefit black people, like they benefited whites under apartheid – Shivambu

[BBSA]

During a parliamentary debate on draft legislation on the insourcing of workers tabled by the Economic Freedom Fighters (EFF), the party’s deputy president Floyd Shivambu addressed the topic of prescribed assets.

President Cyril Ramaphosa said in August that South Africa should discuss prescribed assets, the policy of using worker pension funds to finance development and infrastructure projects, a proposal that earned the backing by the Congress of South African Trade Unions (Cosatu).

According to Shivambu, there shouldn’t be an outcry about government potentially adopting this policy, as all white South Africans are already a beneficiary of prescribed assets due to apartheid-era policy.

AMP CEO resigns amid deepening banking scandal | The Citizen

The CEO of Australian finance company AMP resigned suddenly on Friday after revelations of widespread abuses by the firm, including charging thousands of customers for services never received.

citizen.co.za

 

[My_King]

What?

 

[rambo919]

Just in case anyone is in danger of forgetting these brave warriors..... know f-all about economics.

 

[ProfA]

Tsek p03s. Or is that word reserved for his stupid friend?

 

[xrapidx]

So previously it was most likely only white peoples assets that were prescribed.... so lets let it be only black peoples assets this time.

 

[santaman202]

So previously it was most likely only white peoples assets that were prescribed.... so lets let it be only black peoples assets this time.

Yes that hakuna matata mentality fits them well

 

[ProfA]

So previously it was most likely only white peoples assets that were prescribed.... so lets let it be only black peoples assets this time.

Thats actually not a bad and fair.

 

[Jopie Fourie]

Take it all. You are going to do it in any event. But be quick. Just like me, many people is now in the process of canceling and taking what they can and moving their money out of the country. By the time you are ready to take pensions, RA's, savings money it may be too late and the little that is left will not benefit anyone.

 

[Temujin]

Just in case anyone is in danger of forgetting these brave warriors..... know f-all about economics.

ftfy

 

[lumeer]

Floyd Shivambu... VBS... prescribed assets...

 

[shooter69]

Call that spade a P03S

 

[Okty]

the policy of using worker pension funds to finance development and infrastructure projects,​

As long as you stick to government workers, ANC and EFF members/voters then go ahead.

 

[shooter69]

Tsek p03s. Or is that word reserved for his stupid friend?

The word P03S applies to all red beret wearers

 

[HunterNW]

Another fcking dumb po3s. You're asking to be shot. Bloody communist. And you wonder why people are racist ?

 

[Urist]

Prescribed assets? You mean stolen VBS money?

 

[Mila]

What do you call a gathering of P@$se?

EFF

 

[Arthur]

...as all white South Africans are already a beneficiary of prescribed assets due to apartheid-era policy.

Odd that it hasn't occurred to these benighted souls that not every policy and action under apartheid was wise, prudent and beneficial. In fact, some really idiotic and harmful things were done by the apartheid government. Prescribed assets is just one of them.

 

[HunterNW]

Odd that it hasn't occurred to these benighted souls that not every policy and action under apartheid was wise, prudent and beneficial. In fact, some really idiotic and harmful things were done by the apartheid government. Prescribed assets is just one of them.

I think prescibed assests back then were worth more than it's now ?

 

[MrGray]

The economy doesn't care about the colour of your skin. Helping themselves to a chunk of people's savings will be equally bad for everyone. It's not as if only white people have pensions funds and RA's. It amazes me that so many people have no clue about the money in their savings, they think it's in some kind of magical realm disconnected from the companies they all seem to hate so much.

 

[R13...]

So previously it was most likely only white peoples assets that were prescribed.... so lets let it be only black peoples assets this time.

I doubt they had different investment requirements for different races. That's if they had prescribed assets back then. The difference is obviously that for all their faults the apartheid regime didn't seem have mismanaged state enterprises but as for benefiting only white people he'd be right because of how they developed infrastructure.