February 13, 2020 / 7:13 PM / 4 days ago

South Africa's Ramaphosa says will establish sovereign wealth fund

CAPE TOWN, Feb 13 (Reuters) - South Africa has decided to establish a sovereign wealth fund as means to preserve and grow the country’s national endowments, President Cyril Ramaphosa said on Thursday.

Ramaphosa added in a state of the nation speech that his government would set up a state bank as part of efforts to extend access to financial services. (Reporting by Wendell Roelf Writing by Alexander Winning)

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