Meeting between Brown, Old Mutual and Futuregrowth postponed to Sept 13

8th September 2016

By: Creamer Media Reporter

  

Font size: - +

The Department of Public Enterprises reported on Thursday that a meeting between Minister Lynne Brown and the CEOs of Old Mutual and Futuregrowth Asset Management, which had been scheduled for September 8, had been postponed until September 13.

Brown, who is Shareholder Minister for Eskom and Transnet, wanted to discuss Futuregrowth’s suspension of financing to six State-owned Companies (SoCs), owing to governance concerns.

Besides Eskom and Transnet, Futuregrowth, which is an Old Mutual subsidiary, indicated that it would suspend future lending to the South African National Roads Agency Limited, the Land Bank, the Industrial Development Corporation and the Development Bank of Southern Africa.

Speaking in Parliament on Wednesday Brown expressed confidence in the boards of the SoCs for which she is responsible, which includes Eskom, Transnet, Denel, Safcol, SA Express and Alexkor.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION