BIFM fund obsessed with profit - Molefe

In an affidavit submitted to the High Court last week, Molefe argues that BIFM Fund and BBS had divergent visions and interests. He says while the BIFM's primary agenda is to accrue as much profit as possible to its shareholders, who contrary to Carr's claims are a few individuals, the BBS' role is wider and even more important to this country, which is to assist in the development of this country.

"(Carr) and Marsland are driven by profit whereas the applicant and its other significant shareholders, also uphold the development agenda of the government in respect of its people, being the acquisition of affordable credit to acquire shelter and the encouragement and investment culture," argues Molefe.