Monday, 22 September 2008
The Other Frontrunner: Kgalema Mothlante
The other MP tipped for the job of Caretaker President is ANC deputy prez Kgalema Mothlante, his track record is a bit better:
In February 2006, auditors revealed that a total of about R2 billion in loans by the Land Bank, a government institution established to help farmers, had gone sour. Earlier, a R800 million (about $112 million) 10 year loan was given to Pamodzi Investment Holdings, a company whose shareholders include Motlanthe. This amounted to nearly one-third of the Land Bank's total assets, and was a non-agricultural investment. There is no suggestion that this particular loan was non-performing. Pamodzi chief executive Ndaba Ntsele denies there was any wrongdoing. The government has since fired the Land Bank chairman and agreed to inject R700 million to keep the Land Bank operative.
Sources: ANC, Wikipedia
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