CEDA suspends loan repayments for BCL contractors :: Mmegi Online

SELEBI-PHIKWE: Following the placement of the BCL group under provisional liquidation, the Citizen Entrepreneurial Development Agency (CEDA) has suspended repayment of loans by companies that were directly contracted to the BCL mine until the liquidation process is concluded.

Speaking at last week’s commemoration of the Africa Industrialisation Day and Business Forum, CEDA chief executive officer, Thabo Thamane said the temporary suspension is going to put pressure on the agency’s balance sheet but it was a viable decision to make in light of the situation. Thamane, however said the decision does not stop the suppliers from continuing to pay from other alternative sources of funds.

The provisional liquidation is expected to last until February 2017 when the liquidators produce a report with recommendations on the way forward.

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