No surprise there. My buddy recently applied to the IDC for a loan. It was shocking when the person handling his application asked him for R60 000.00 to send it to the board for approval. This was in August 2012. When he refused, to date he never got a positive response. Always, that the application is being considered. He runs a successful business and wanted to purchase another business from his competitor who is retiring. No rocket science. Both business are extremely viable. I had a look at the financials and it is sound.
His own bank wanted to finance it at a ridiculous interest rate and the normal I will clamp your bals situation. So he declined that option.
Its pathetic how this country has interpreted freedom, democracy and wealth creation.
Even Pravin Gordhan was once an icon. He is also falling prey and turning a blind eye. Sad that ppl still vote, more than twenty years after our so called freedom, for that ANC.
