Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
No sovereign wealth fund withdrawals 3 months before elections
The Bill also imposes tough criminal penalties on anyone found to have misappropriated funds from the sovereign wealth fund, even as it red-flags the use of money in the sinking kitty to bankroll elections.
No cash will be withdrawn from the sovereign wealth fund (SWF) within three months of a general election, the government has said in a proposed law aimed at shielding the funds from misuse through political patronage.
As a safeguard, the proposed law in the Sovereign Wealth Fund Bill, 2026 requires that cash held in the endowment at least three months before a General Election be certified by its board of management, with a report submitted to the National Treasury and forwarded to the Auditor-General and Parliament for verification.
