GIA: The obscure fund that impacted an election

Friday, November 01, 2024 | 1390 Views |

Heart of the matter: The Finance Ministry was in the news more than usual this year, as diamonds sank into a protracted slump

Of the various debate issues that dominated the election, the Government Investment Account and its performance, came from the recesses of the fiscus and became a ‘trending topic’ in many voters’ minds. MBONGENI MGUNI reports

Earlier in the year, President Mokgweetsi Masisi and the ruling party seemed headed for an untroubled second term, with a popular suite of policies and the record P102 billion budget anchoring the president’s campaign.

However, by mid-year, the downturn in diamonds became prolonged, eating into the budget plans, forcing accelerated drawdowns on savings and causing murmurs of concern amongst those tracking the numbers.

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