The government wants to take over R88 billion owed to ordinary South Africans

The National Treasury has proposed a centralised system to manage an estimated R88 billion in unclaimed money owed to ordinary South Africans. The funds are currently held across various institutions and remain unclaimed by their rightful owners. The proposal aims to consolidate these assets under a single framework to improve accessibility and oversight. Further details on the implementation and scope of the system have not been provided.

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