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.
