CEDA in dicey impasse with VPB

At the centre of the standoff are differing opinions between the parties over how to value some of the investments that VPB had made on behalf of the agency under the CEDA Venture Capital Fund (CVCF).

Under a 10-year deal, VPB was in 2003 tasked to manage the P200 million fund and invest in different economic sectors through either debt or equity. Appearing before a Parliamentary Committee on Statutory Bodies and State Enterprises yesterday, CEDA CEO Thabo Thamane said they are currently finalising an audit, which will inform them on whether to take the deadlock to arbitration or not.