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P120m-misuse puts FirstCred under judicial management

Garekwe
Garekwe

FirstCred has been put under judicial management after a P120 million loss that the company says was due to mismanagement.

Formerly known as Getbucks, FirstCred is the country’s largest microlender.

CEO Duduetsang Garekwe says the judicial management provides the most optimal avenue for FirstCred to repay all its creditors adding that it will also allow the company to resolve its debt position.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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