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The EPPF believes that social and economic stability is a key dependency for pension funds to function optimally and be able to pay benefits to members. Key to this is job creation which is a catalyst for economic growth.
South African Small Medium Enterprises (SMEs) represent most businesses and employ most of our workforce. It is in this context that the EPPF is proud to announce the launch of a debt fund designed for SMEs. The South African SME Debt Fund will be managed by Sanlam Investments, following its appointment as the external fund manager. The debt fund seeks to help SMEs with high growth potential and stable business strategies through loans priced at a maximum interest rate of prime with an equity upside to yield a further 5% return. The loans can be repaid within a maximum period of 60 months. The EPPF committed R350 million to the investment pool while Sanlam made a co-investment of R50 million.
“The EPPF recognises that it operates within an environment with many social challenges. We believe the EPPF has a role to play in social and economic transformation in the country. In line with the EPPF’s purpose to help prepare our members – and the South African economy at large – for a better financial future, we are pleased to launch this debt fund to assist SMEs,” explains Shafeeq Abrahams, Chief Executive and Principal Officer at the EPPF.
The debt fund will prioritise businesses that have been in existence for at least three years and have shown signs of profitability before the COVID-19 pandemic. It will prioritise businesses in the manufacturing and agro-processing sectors, among other criteria.
For more information about the SA SME Debt Fund, e-mail: email@example.com
Dear Member, Regards,
As promised, we’d like to share an update regarding the Brian Molefe matter.
The EPPF was at the North Gauteng High Court where the matter regarding the amount owed to the Fund by Mr. Molefe was heard. After the two-day session the Judge has reserved his ruling on the matter. The EPPF is pleased that the matter has now been heard and look forward to its conclusion once the court delivers its judgement.
We are unable to provide any other details on the matter at this stage until the court delivers judgement. This will be shared with the members and pensioners as soon as it is delivered.
Should you have any queries, please contact firstname.lastname@example.org .
Eskom Pension and Provident Fund
I write to you at a time when the world at large, and South Africa in particular, is making steady progress in its recovery from the Covid-19 pandemic. However, global optimism has somewhat waned, and increased levels of uncertainty and volatility have in recent weeks come to the fore. This is largely due to the Russian-Ukrainian war and its impact on global markets - the oil price in particular; inflationary pressures and responding increases in interest rates; changes to legislation and regulations governing pension funds in South Africa, and closer to home, the ongoing Eskom unbundling.
As the Fund, we are monitoring and assessing these developments, and continue to take the necessary steps, as required, to protect and/or advance the interests of the Fund and its members and pensioners.
In the interim, and keeping with our spirit of accountability, I thought I should provide you a brief update on some of the Fund’s activities for the six months period ended 31 December 2021.