The Portfolio Committee on Trade and Industry decided during its meeting on Tuesday that it needed clarity regarding a R34 million loan from the National Empowerment Fund (NEF) to Ndalo Luxury Ventures.
This was after the issue was raised by a Committee member. The Minister of Trade and Industry, who was present in the meeting, agreed to urgently seek further information on the matter and communicate an informed response to the Committee.
After the Committee’s decision, another Committee member (not the one who first raised the matter) wrote a letter to the media and to the Committee to request an investigation into the NEF matter.
“This request has already been dealt with in the Committee meeting. As I pointed out, the matter is important and the Committee will study the informed response of the Minister,” said Ms Joanmariae Fubbs, Chairperson of the Committee. The Committee will also engage with the NEF.
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