31July 2013
The Democratic Alliance said it welcomes
the announcement by the Minister of Trade and Industry Rob Davis requesting a
detailed report from the National Empowerment Fund, regarding its funding of
Ndalo Luxury Ventures.
The NEF approved a total 34.1 million-Rand
in loan finance to NLV for the construction of the Luminance store, procurement
of stock from local and international suppliers, and the local manufacture of a
clothing range for the Luminance brand.
DA MP of Trade and Industry Wilmot James
said that there is nothing wrong in the business itself.
“But this is taxpayers money they want a
complete explanation of the circumstances under which a grant of this magnitude
R34 million goes to a very successful business women,” added Wilmot.
He also said that it is a need for
explanation and an account given of why that has happened.
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