Audit of CEDA�S P200m Venture Fund complete

Addressing the media this week, Thamane said they had to conduct an audit on the CVCF following the end of its 10-year lifespan to review the activities of the Fund since inception.

“We indicated that we wanted to do an audit because initially there was an agreement that CEDA was supposed to take 49% stake in each investment, but there were times where the Fund would go beyond that which then forced us to consolidate them to CEDA structures,” he said.