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1. Africom borrowed $15m from Afrexim Bank. NSSA, with 4,5% shareholding guaranteed the whole loan. But Fernhaven Investments held 51% shares in Africom. When Africom failed to pay, Afrexim Bank came after NSSA. Why commit & risk public funds in this way? bigsr.co.uk/single-post/20…
2. Turns out that Fernhaven Investments is a military-related company in which according to South Africa’s Sunday Times the Foreign Affairs Minister & former general S B Moyo was/is a director. His wife is the head of the anti-corruption watchdog. This will be interesting.
3. The Africom debt was eventually passed on to state asset management company, ZAMCO. Why should the taxpayer be saddled with a private debt? If you audit the affairs of directors & individuals of Africom orFernhaven they are not living in poverty compared to the taxpayers
