Bosses of crashed Durban company 'embezzled' R15m to blow on cars, overseas trips, gambling, alcohol | News24

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The directors of a company that borrowed money from the KwaZulu-Natal Growth Fund to expand their clothing business ended up allegedly blowing R15 million on gambling, cars, alcohol, overseas trips, cinemas, aesthetic clinics, and dental surgery.

News24 can reveal that the four directors of a company named Africa Bespoke Apparel used R15 million of the R40 million they borrowed from the KZNGF to grow the business as loans to each

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Well did the business improve.. is the loan getting paid. .. give the full story.

Most definitely Zimbabweans..

Noooo! Can’t be!!! Never! Bloody whites made them do it! Wonder how much Fund officials got as kick back.

All for the great consistency you have demonstrated all these while. Beginning this journey I deposited R5 000. capital and 5days I got a return of R155 000. I am so happy because I can now start up my new business. Deirdremerson

And then we get the likes of our president telling us that R350 can start a successful ice cream business 🙄🙄🙄🙄 🩱🩱🩱🩱🩱

Sounds about right as the thieves know that they are a protected species.

Tendency of blacks/ indians

Viva 🤮

CarlMul62271699 Not surpisinh that that fund was led by no other than Sihle 'Karate Kid' Zikalala. The worst Premier KZN has ever had. He wouldn't know: honesty, business development support, innovation, transparency, if they all ganged up on him and kicked him in his balls.

Sadly we live in a country where this doesn’t even classify as news anymore.

Let there be justice, we need action, not a 'commission of enquiry'. The just can't stop looting. ........hola da

Where was the monitoring of the disbursed funds?

Shouldn't they pay back the loan with an interest?

No pictures of directors....I wonder which race they are....

lindsaymanthey Mrs Deirdre … I never believe it’s going to work out because I have loss a lot in different places I know one day they will face judgment. How can I thank you enough Mrs Deirdre you brought me out of debts, you’re God sent from heaven. Thank God for you Deirdremerson

Can't read it behind paywall... News 24

Empowering much?

And prostitutes. It's important to mention that as well, it completes the cycle.

They are white neh! If they were black, you were going to blast their pics and biography

Oh, it must be Monday.

I worked in funding entrepreneurs for 22years, nothing distract from vision like possibility of easy money…it has the same effect as winning Lottery, it destroys the entrepreneur.

BBBEE level 1 proudly brought to you by the anc

I will await until someone counter and say you are not reporting on the many success the fund had, but merely choosing a random case to push your propaganda. KZN government must come and account here, who was the Premier at the time. This is anti ANC behavior as the organization.

Are you allowed to smile for your prison photo?

Was this company constituted of black excellence that we always hear about?

BBBEE = legalised corruption.

The directors will blame apartheid

So what’s being done about it. Have they been arrested and charged or will it just disappear and they will ride into the sunset untouched..

Ahaaaaa that's how these people behave

Clever blacks I guess 😢!?

So, what communists usually do when they gain power then. Who knew? 🤷‍♂️

The ANC has created a culture of greed, where instant wealth, status and prestige is the norm, not hard work, self-pride and ethics. If you get money you spend it rather than use it to create sustainability. Because tomorrow when money is finished you move on to next cash cow.

ANC Teachings.

Are we surprised?

Indians

ANC’s best looters

No surprise there

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