Dhlomo loan to be discussed in Parliament
The Trade & Industry minister is expected to brief MPs on the NEF’s loan to Khanyi Dhlomo.
CAPE TOWN - Trade and Industry Minister Rob Davies is on Friday expected to brief members of Parliament about the National Empowerment Fund (NEF)'s controversial multimillion rand loan to businesswoman Khanyi Dhlomo.
Davies requested a detailed report on why the NEF granted Dhlomo a R34 million loan to open an upmarket luxury brand store in Johannesburg.
Dhlomo's company Ndalo Luxury Ventures received the loan to open up a high-end fashion store in Hyde Park.
The decision to grant the loan raised eyebrows given its moratorium on further funding commitments due to a lack of money.
The minister called for a report on the matter because he wanted to see whether the loan was in line with the NEF's mandate.
The NEF is waiting for a cash injection from the state.
Last month, Dhlomo said she had nothing to hide and denied claims she secured the funding unfairly.
To read more about Dhlomo's reaction click here