Free State Development Corporation board vows to implement consequence management - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Free State Development Corporation (FDC) board says it will implement consequence management to resolve the institution’s financial troubles.

Image: Facebook via Official DesteaThe Free State Development Corporation board says it willThe board has disclosed that the entity has a huge deficit and it is also owed a lot of money.

The board has made a call to past funding beneficiaries to repay the loans so that the board can continue to fund other businesses.Auditor-General Tsakani Maluleke, has reported irregularities found at the FDC to the Hawks for criminal investigation.The board chairperson Dr. David Mohale says, “We have agreed that the relevant committee of the board must start to have a conversation with management on introducing performance management.

The Free State government says its decision to rescue the Development Corporation is because it believes it still has a critical role to play in the economic growth of the province.

 

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