South African Treasury to coax funds to invest in infrastructure

South Africa’s National Treasury is working on measures to encourage private investment in infrastructure projects, an initiative it hopes will silence calls from other quarters in the government to compel pension funds to help finance their development. Amendments may be proposed to pension-fund legislation to “crowd in” private-sector financing, David Masondo, one of the country’s two deputy finance ministers, said in a speech Wednesday. Finance Minister Enoch Godongwana may make an announcement in his budget update in late October “that may make the calls for asset prescription unnecessary,” he said.