One of Africa’s largest pension funds GEPF’s Sithole discusses R7bn impairments, Eskom & returns


The Government Employees Pension Fund which has outsourced the investments of public servants pensions to the Public Investment Corporation and other fund managers has impaired billions of rands in its latest set of results. These include R3.1 billion investment in Steinhoff’s empowerment shareholder, Lancaster, due to the collapse in Steinhoff’s share price and R1 billion of loans investments in Independent Media, the publisher of The Star newspaper. Principal Executive Officer of GEPF Abel Sithole joins CNBC Africa for more.