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ANC: Futuregrowth’s view on state firms ‘erroneous’

Futuregrowth to halt lending to six state-owned firms.

JOHANNESBURG – South Africa’s ruling party said on Thursday it was concerned by asset manager Futuregrowth’s decision to halt lending to state-owned firms and it was “erroneous” to conclude that the companies were beset by corporate governance problems.

Futuregrowth on Wednesday said it would no longer lend to six state-owned firms, including Eskom and Transnet , citing political uncertainty in the face of a corruption investigation around Finance Minister Pravin Gordhan.

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