Paralysis at PIC killed a successful African business, says Musa CEO Will Jimerson

BL PREMIUMThe CEO of an investment holding company that is being liquidated by the Public Investment Corporation over an outstanding debt of R1.4bn says that his company, which was founded by two American business people, has not failed because of any unlawfulness on the part of directors.

The PIC, which manages over R2-trillion, mostly on behalf of government workers, granted a R950m loan to the Musa Group in 2015, which by the end of 2019 had grown to R1.4bn. About R450m of that was used to purchase a handful of companies mainly owned by a community in the North West, with the rest meant to drive the expansion of the companies.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Will Covid-19 kill off Sandton and other swish business hubs?Remote working means a lower demand for office space — but Joburg has always embraced change
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

Will Covid-19 kill off Sandton and other swish business hubs?Remote working means a lower demand for office space — but Joburg has always embraced change
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

3-day shutdown: No burials, warns funeral industry as it demands talks with govt | News24The South African Funeral Practitioners Association says it will not take part in the planned three-day national shutdown organised by its funeral mother body, the Unification Task Team. | MaliDayimani
Источник: News24 - 🏆 4. / 80 Прочитайте больше »