More SA investors are looking to offshore, here’s why

PUBLISHED: Thu, 22 Aug 2019 11:05:56 GMT

Over the weekend Enoch Godongwana the ANC’s economic policy head stated that the government is investigating the use of prescribed assets for pension funds in order to avoid a bailout from the International Monetary Fund. However, this may raise some concerns as the last time that the government implemented prescribed assets, retirement funds had to invest half of all its savings in government bonds. But, perhaps offshore investing may secure the future of ones’ pension savings. According to Coreen van der Merwe, Managing Director of Sovereign Trust SA more middle- class earners and people looking for a tax-efficient retirement plan are turning to offshore investments. She joins CNBC Africa for more.

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.